Texas Capital Bancshares Inc. TX Cuts Position in Arthur J Gallagher & Co (NYSE:AJG)

Texas Capital Bancshares Inc. TX lessened its stake in Arthur J Gallagher & Co (NYSE:AJG) by 6.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,098 shares of the financial services provider’s stock after selling 261 shares during the quarter. Arthur J Gallagher & Co accounts for 0.6% of Texas Capital Bancshares Inc. TX’s investment portfolio, making the stock its 25th largest position. Texas Capital Bancshares Inc. TX’s holdings in Arthur J Gallagher & Co were worth $367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Arthur J Gallagher & Co by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,650,184 shares of the financial services provider’s stock valued at $1,808,749,000 after purchasing an additional 63,734 shares in the last quarter. BlackRock Inc. increased its holdings in Arthur J Gallagher & Co by 1.0% during the 2nd quarter. BlackRock Inc. now owns 19,169,460 shares of the financial services provider’s stock valued at $1,679,052,000 after acquiring an additional 185,656 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Arthur J Gallagher & Co by 52.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,432,371 shares of the financial services provider’s stock valued at $724,679,000 after acquiring an additional 2,895,732 shares in the last quarter. Invesco Ltd. increased its holdings in Arthur J Gallagher & Co by 51.4% during the 2nd quarter. Invesco Ltd. now owns 4,113,457 shares of the financial services provider’s stock valued at $360,298,000 after acquiring an additional 1,397,053 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Arthur J Gallagher & Co by 14.6% during the 2nd quarter. Bank of America Corp DE now owns 1,862,950 shares of the financial services provider’s stock valued at $163,176,000 after acquiring an additional 236,745 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

In other Arthur J Gallagher & Co news, Director Kay W. Mccurdy sold 2,250 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $90.84, for a total transaction of $204,390.00. Following the sale, the director now directly owns 30,232 shares of the company’s stock, valued at approximately $2,746,274.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan E. Pietrucha sold 18,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $90.33, for a total transaction of $1,625,940.00. Following the sale, the insider now directly owns 4,967 shares in the company, valued at $448,669.11. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Several research firms have weighed in on AJG. Zacks Investment Research upgraded shares of Arthur J Gallagher & Co from a “sell” rating to a “hold” rating and set a $76.00 target price for the company in a report on Tuesday, July 23rd. SunTrust Banks raised their target price on shares of Arthur J Gallagher & Co from $102.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada set a $91.00 target price on shares of Arthur J Gallagher & Co and gave the company a “hold” rating in a report on Friday. Credit Suisse Group restated an “outperform” rating and set a $93.00 target price (up from $88.00) on shares of Arthur J Gallagher & Co in a report on Wednesday, August 7th. Finally, Barclays set a $107.00 target price on shares of Arthur J Gallagher & Co and gave the company a “buy” rating in a report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $95.86.

NYSE:AJG traded up $0.25 during mid-day trading on Monday, hitting $89.70. 57,746 shares of the company’s stock traded hands, compared to its average volume of 801,805. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s 50 day simple moving average is $88.79 and its 200 day simple moving average is $87.27. Arthur J Gallagher & Co has a 1 year low of $68.19 and a 1 year high of $92.74. The company has a market cap of $16.97 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 2.55 and a beta of 0.81.

Arthur J Gallagher & Co (NYSE:AJG) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. Arthur J Gallagher & Co had a net margin of 9.69% and a return on equity of 14.44%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research analysts expect that Arthur J Gallagher & Co will post 3.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.72 annualized dividend and a yield of 1.92%. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is currently 49.86%.

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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