Arthur J Gallagher & Co (AJG) Stake Raised by Hartford Investment Management Co.

Hartford Investment Management Co. raised its holdings in Arthur J Gallagher & Co (NYSE:AJG) by 88.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,523 shares of the financial services provider’s stock after purchasing an additional 26,133 shares during the quarter. Hartford Investment Management Co.’s holdings in Arthur J Gallagher & Co were worth $4,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AJG. BlackRock Inc. lifted its holdings in Arthur J Gallagher & Co by 23.3% during the 4th quarter. BlackRock Inc. now owns 19,674,828 shares of the financial services provider’s stock worth $1,450,035,000 after buying an additional 3,713,920 shares during the last quarter. Vanguard Group Inc lifted its holdings in Arthur J Gallagher & Co by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 19,570,551 shares of the financial services provider’s stock worth $1,456,832,000 after buying an additional 259,584 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in Arthur J Gallagher & Co by 0.3% during the 4th quarter. Baillie Gifford & Co. now owns 7,143,637 shares of the financial services provider’s stock worth $526,486,000 after buying an additional 18,790 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Arthur J Gallagher & Co by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,682,827 shares of the financial services provider’s stock worth $274,149,000 after buying an additional 115,903 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Arthur J Gallagher & Co by 6,202.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,656,369 shares of the financial services provider’s stock worth $36,000 after buying an additional 2,614,218 shares during the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

In other Arthur J Gallagher & Co news, VP Scott R. Hudson sold 10,200 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $78.99, for a total transaction of $805,698.00. Following the sale, the vice president now owns 31,612 shares in the company, valued at approximately $2,497,031.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas K. Howell sold 13,600 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $79.27, for a total value of $1,078,072.00. Following the sale, the chief financial officer now owns 47,577 shares in the company, valued at approximately $3,771,428.79. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,734 shares of company stock worth $2,462,300. Insiders own 1.30% of the company’s stock.

A number of analysts have issued reports on AJG shares. SunTrust Banks lifted their price target on Arthur J Gallagher & Co to $95.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Wells Fargo & Co reissued a “buy” rating and issued a $93.00 target price on shares of Arthur J Gallagher & Co in a report on Friday, April 26th. Morgan Stanley boosted their target price on Arthur J Gallagher & Co from $77.00 to $81.00 and gave the company an “equal weight” rating in a report on Monday, April 29th. Zacks Investment Research raised Arthur J Gallagher & Co from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Finally, Barclays upped their price objective on Arthur J Gallagher & Co from $93.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Arthur J Gallagher & Co has a consensus rating of “Buy” and an average target price of $84.67.

NYSE AJG traded up $0.94 on Wednesday, hitting $84.79. 798,604 shares of the company’s stock were exchanged, compared to its average volume of 1,068,178. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.74. Arthur J Gallagher & Co has a fifty-two week low of $64.54 and a fifty-two week high of $84.81. The stock has a market capitalization of $15.44 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 2.26 and a beta of 0.92.

Arthur J Gallagher & Co (NYSE:AJG) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Arthur J Gallagher & Co had a return on equity of 14.33% and a net margin of 9.79%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 EPS. Equities analysts forecast that Arthur J Gallagher & Co will post 3.74 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, June 6th. Arthur J Gallagher & Co’s dividend payout ratio is currently 49.86%.

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Arthur J Gallagher & Co Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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Institutional Ownership by Quarter for Arthur J Gallagher & Co (NYSE:AJG)

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