Chevy Chase Trust Holdings Inc. lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 148,319 shares of the company’s stock after selling 3,586 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Arthur J. Gallagher & Co. were worth $7,545,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AJG. Vanguard Group Inc. raised its stake in Arthur J. Gallagher & Co. by 23.4% in the second quarter. Vanguard Group Inc. now owns 15,749,325 shares of the company’s stock worth $749,668,000 after buying an additional 2,987,125 shares during the period. State Street Corp raised its stake in Arthur J. Gallagher & Co. by 22.9% in the second quarter. State Street Corp now owns 7,802,461 shares of the company’s stock worth $371,397,000 after buying an additional 1,456,359 shares during the period. Kleinwort Benson Investors Dublin Ltd bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth $37,142,000. Virginia Retirement Systems ET AL bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth $24,390,000. Finally, Royal Bank of Canada raised its stake in Arthur J. Gallagher & Co. by 381.0% in the second quarter. Royal Bank of Canada now owns 630,386 shares of the company’s stock worth $30,008,000 after buying an additional 499,318 shares during the period. 81.37% of the stock is owned by institutional investors.

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

Arthur J. Gallagher & Co. (NYSE:AJG) traded up 0.08% during midday trading on Tuesday, hitting $51.26. The stock had a trading volume of 587,515 shares. The stock has a market cap of $9.12 billion, a PE ratio of 23.89 and a beta of 1.10. The company’s 50 day moving average price is $49.83 and its 200-day moving average price is $49.01. Arthur J. Gallagher & Co. has a 52-week low of $35.96 and a 52-week high of $52.34.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 27th. The company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.01. The firm earned $1.48 billion during the quarter, compared to analysts’ expectations of $388.20 million. Arthur J. Gallagher & Co. had a return on equity of 12.86% and a net margin of 6.88%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. Analysts forecast that Arthur J. Gallagher & Co. will post $2.75 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Wednesday, November 30th. Arthur J. Gallagher & Co.’s payout ratio is currently 71.03%.

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A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Arthur J. Gallagher & Co. from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, August 1st. Barclays PLC reissued an “overweight” rating and set a $52.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Monday, September 26th. Goldman Sachs Group Inc. lowered Arthur J. Gallagher & Co. from a “neutral” rating to a “sell” rating in a research note on Tuesday, November 15th. Citigroup Inc. upped their target price on Arthur J. Gallagher & Co. from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 11th. Finally, Zacks Investment Research upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Tuesday, November 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Arthur J. Gallagher & Co. currently has a consensus rating of “Buy” and an average target price of $51.69.

In other Arthur J. Gallagher & Co. news, Director Kay W. Mccurdy sold 3,375 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, November 11th. The stock was sold at an average price of $51.20, for a total transaction of $172,800.00. Following the completion of the sale, the director now directly owns 34,470 shares of the company’s stock, valued at approximately $1,764,864. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Susan E. Pietrucha sold 6,955 shares of Arthur J. Gallagher & Co. stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $50.35, for a total value of $350,184.25. Following the sale, the insider now directly owns 6,955 shares of the company’s stock, valued at $350,184.25. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is engaged in providing insurance brokerage and consulting services and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate. The Company provides insurance, brokerage and risk management services to a range of commercial, industrial, institutional and governmental organizations through its operating segments.

5 Day Chart for NYSE:AJG

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