Eqis Capital Management Inc. Trims Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Eqis Capital Management Inc. reduced its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,872 shares of the financial services provider’s stock after selling 328 shares during the quarter. Eqis Capital Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $409,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AJG. FMR LLC raised its position in Arthur J. Gallagher & Co. by 451.7% during the second quarter. FMR LLC now owns 3,244,426 shares of the financial services provider’s stock valued at $316,298,000 after acquiring an additional 2,656,313 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 4.2% in the second quarter. BlackRock Inc. now owns 20,866,253 shares of the financial services provider’s stock worth $2,034,251,000 after acquiring an additional 835,272 shares during the last quarter. FIL Ltd boosted its stake in shares of Arthur J. Gallagher & Co. by 44.0% in the second quarter. FIL Ltd now owns 1,575,067 shares of the financial services provider’s stock worth $153,553,000 after acquiring an additional 481,433 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Arthur J. Gallagher & Co. by 76.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,044,881 shares of the financial services provider’s stock worth $101,865,000 after acquiring an additional 452,331 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 27.8% in the second quarter. Victory Capital Management Inc. now owns 1,988,264 shares of the financial services provider’s stock worth $193,836,000 after acquiring an additional 432,349 shares during the last quarter. Institutional investors own 77.39% of the company’s stock.

NYSE:AJG opened at $115.55 on Friday. Arthur J. Gallagher & Co. has a 52 week low of $65.09 and a 52 week high of $118.39. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $22.22 billion, a P/E ratio of 28.96, a P/E/G ratio of 2.31 and a beta of 0.68. The stock’s fifty day moving average is $109.05 and its two-hundred day moving average is $101.88.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 29th. The financial services provider reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.16. Arthur J. Gallagher & Co. had a return on equity of 16.19% and a net margin of 11.04%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 4.6 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a $0.45 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.56%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 49.32%.

A number of brokerages have recently issued reports on AJG. Raymond James reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, October 7th. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $113.00 to $117.00 in a research note on Monday, November 2nd. Credit Suisse Group boosted their price objective on Arthur J. Gallagher & Co. from $110.00 to $117.00 and gave the stock an “outperform” rating in a research note on Friday, November 6th. Morgan Stanley boosted their price objective on Arthur J. Gallagher & Co. from $106.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Finally, Bank of America lowered Arthur J. Gallagher & Co. from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $117.00 to $101.00 in a research note on Friday, August 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Arthur J. Gallagher & Co. currently has an average rating of “Buy” and a consensus target price of $112.08.

In related news, Director Kay W. Mccurdy sold 1,830 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $103.00, for a total value of $188,490.00. Following the sale, the director now owns 30,252 shares in the company, valued at approximately $3,115,956. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank E. Jr. English sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $111.78, for a total value of $111,780.00. 1.40% of the stock is currently owned by insiders.

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 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.

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

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