Welch & Forbes LLC Purchases 33,464 Shares of Arthur J Gallagher & Co (NYSE:AJG)

Welch & Forbes LLC lifted its position in Arthur J Gallagher & Co (NYSE:AJG) by 37.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 123,938 shares of the financial services provider’s stock after purchasing an additional 33,464 shares during the quarter. Welch & Forbes LLC’s holdings in Arthur J Gallagher & Co were worth $11,802,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AJG. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Arthur J Gallagher & Co by 59.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 211,330 shares of the financial services provider’s stock worth $16,504,000 after purchasing an additional 78,599 shares during the period. Commonwealth Bank of Australia increased its holdings in shares of Arthur J Gallagher & Co by 35.6% in the second quarter. Commonwealth Bank of Australia now owns 480 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 126 shares during the period. Profund Advisors LLC increased its holdings in shares of Arthur J Gallagher & Co by 42.6% in the second quarter. Profund Advisors LLC now owns 4,814 shares of the financial services provider’s stock worth $422,000 after purchasing an additional 1,438 shares during the period. HighTower Advisors LLC increased its holdings in shares of Arthur J Gallagher & Co by 7.1% in the second quarter. HighTower Advisors LLC now owns 24,552 shares of the financial services provider’s stock worth $2,154,000 after purchasing an additional 1,627 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Arthur J Gallagher & Co by 12.1% in the second quarter. Asset Management One Co. Ltd. now owns 93,975 shares of the financial services provider’s stock worth $8,232,000 after purchasing an additional 10,128 shares during the period. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

AJG traded up $0.59 during trading on Friday, reaching $96.64. The stock had a trading volume of 4,143 shares, compared to its average volume of 694,855. The stock has a market cap of $17.74 billion, a PE ratio of 28.01, a PEG ratio of 2.34 and a beta of 0.80. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.05 and a current ratio of 1.05. Arthur J Gallagher & Co has a one year low of $71.55 and a one year high of $96.43. The business has a 50-day moving average of $94.60 and a 200-day moving average of $91.17.

Arthur J Gallagher & Co (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.01. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Arthur J Gallagher & Co had a return on equity of 14.38% and a net margin of 9.69%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Equities research analysts forecast that Arthur J Gallagher & Co will post 3.62 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.72 dividend on an annualized basis and a yield of 1.78%. Arthur J Gallagher & Co’s dividend payout ratio is presently 49.86%.

In other Arthur J Gallagher & Co news, VP Joel D. Cavaness sold 29,500 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $93.75, for a total transaction of $2,765,625.00. Also, General Counsel Walter D. Bay sold 1,944 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $95.32, for a total transaction of $185,302.08. Following the sale, the general counsel now owns 67,644 shares of the company’s stock, valued at $6,447,826.08. The disclosure for this sale can be found here. In the last three months, insiders sold 36,493 shares of company stock worth $3,414,652. 1.30% of the stock is owned by insiders.

Several research firms have recently weighed in on AJG. Royal Bank of Canada set a $91.00 price target on shares of Arthur J Gallagher & Co and gave the stock a “hold” rating in a report on Friday, October 25th. SunTrust Banks increased their target price on Arthur J Gallagher & Co from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. ValuEngine cut Arthur J Gallagher & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays reissued a “buy” rating and issued a $113.00 target price on shares of Arthur J Gallagher & Co in a research note on Tuesday, January 7th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Arthur J Gallagher & Co in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Arthur J Gallagher & Co presently has a consensus rating of “Buy” and an average target price of $95.29.

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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