Arthur J. Gallagher & Co. (NYSE:AJG) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 136,039 shares of the financial services provider’s stock after selling 2,183 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Arthur J. Gallagher & Co. were worth $14,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AJG. Amundi Pioneer Asset Management Inc. increased its position in shares of Arthur J. Gallagher & Co. by 59.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 211,330 shares of the financial services provider’s stock valued at $16,504,000 after acquiring an additional 78,599 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at $539,000. APG Asset Management N.V. grew its position in Arthur J. Gallagher & Co. by 76.3% during the 1st quarter. APG Asset Management N.V. now owns 219,404 shares of the financial services provider’s stock worth $17,884,000 after purchasing an additional 94,980 shares during the period. Morgan Stanley grew its position in Arthur J. Gallagher & Co. by 6.7% during the 1st quarter. Morgan Stanley now owns 579,212 shares of the financial services provider’s stock worth $47,211,000 after purchasing an additional 36,382 shares during the period. Finally, AXA acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $2,951,000. 81.51% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on AJG shares. Keefe, Bruyette & Woods raised their target price on Arthur J. Gallagher & Co. from $106.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft raised their target price on Arthur J. Gallagher & Co. from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. They noted that the move was a valuation call. Raymond James restated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, October 7th. Bank of America cut Arthur J. Gallagher & Co. from a “buy” rating to an “underperform” rating and dropped their target price for the company from $117.00 to $101.00 in a research report on Friday, August 21st. Finally, Morgan Stanley raised their target price on Arthur J. Gallagher & Co. from $106.00 to $112.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $111.45.

Shares of Arthur J. Gallagher & Co. stock opened at $103.00 on Friday. The firm has a market capitalization of $19.72 billion, a PE ratio of 27.47, a P/E/G ratio of 2.31 and a beta of 0.67. Arthur J. Gallagher & Co. has a twelve month low of $65.09 and a twelve month high of $110.56. The firm’s 50-day moving average price is $105.59 and its 200 day moving average price is $98.47. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.78.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 29th. The financial services provider reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.16. Arthur J. Gallagher & Co. had a net margin of 10.35% and a return on equity of 16.01%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the company posted $0.80 EPS. The business’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts predict that Arthur J. Gallagher & Co. will post 4.37 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.75%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 49.32%.

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 8,700 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $108.50, for a total value of $943,950.00. Following the transaction, the insider now directly owns 5,087 shares of the company’s stock, valued at approximately $551,939.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank E. Jr. English sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $107.14, for a total transaction of $267,850.00. Following the completion of the transaction, the director now directly owns 6,500 shares in the company, valued at $696,410. The disclosure for this sale can be found here. Insiders sold a total of 14,030 shares of company stock worth $1,506,910 over the last three months. Corporate insiders own 1.40% of the company’s stock.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, and the United Kingdom. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

Further Reading: Outstanding Shares, Buying and Selling Stocks

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

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