State Street Corp Has $1.71 Billion Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

State Street Corp lessened its position in Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,771,098 shares of the financial services provider’s stock after selling 22,141 shares during the period. State Street Corp owned 4.65% of Arthur J. Gallagher & Co. worth $1,706,034,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Arthur J. Gallagher & Co. by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 24,846,924 shares of the financial services provider’s stock worth $4,338,274,000 after purchasing an additional 532,344 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Arthur J. Gallagher & Co. by 44.1% in the 1st quarter. JPMorgan Chase & Co. now owns 8,346,332 shares of the financial services provider’s stock valued at $1,457,269,000 after buying an additional 2,555,055 shares during the last quarter. Norges Bank bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at about $1,172,681,000. Capital International Investors grew its position in shares of Arthur J. Gallagher & Co. by 5.8% in the 4th quarter. Capital International Investors now owns 5,397,092 shares of the financial services provider’s stock valued at $915,673,000 after buying an additional 298,174 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Arthur J. Gallagher & Co. by 4.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,072,013 shares of the financial services provider’s stock valued at $710,973,000 after buying an additional 182,822 shares during the last quarter. Institutional investors and hedge funds own 81.22% of the company’s stock.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of analyst reports. Morgan Stanley upped their price target on Arthur J. Gallagher & Co. from $162.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, August 19th. Raymond James upped their price target on Arthur J. Gallagher & Co. from $195.00 to $205.00 and gave the company a “strong-buy” rating in a research report on Monday, August 1st. Evercore ISI set a $195.00 price target on Arthur J. Gallagher & Co. in a research report on Monday, June 20th. Argus initiated coverage on Arthur J. Gallagher & Co. in a research report on Friday, August 26th. They issued a “buy” rating and a $215.00 price target on the stock. Finally, The Goldman Sachs Group initiated coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, July 12th. They set a “buy” rating and a $198.00 target price on the stock. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.90.

Insider Buying and Selling In related news, Director David S. Johnson sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $190.14, for a total transaction of $190,140.00. Following the transaction, the director now directly owns 47,508 shares of the company’s stock, valued at approximately $9,033,171.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director David S. Johnson sold 1,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $190.14, for a total value of $190,140.00. Following the completion of the sale, the director now directly owns 47,508 shares of the company’s stock, valued at $9,033,171.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP William F. Ziebell sold 29,434 shares of the stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $149.27, for a total value of $4,393,613.18. Following the completion of the sale, the vice president now directly owns 27,614 shares of the company’s stock, valued at $4,121,941.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,117 shares of company stock valued at $10,295,554. 1.40% of the stock is owned by company insiders. Arthur J. Gallagher & Co. Stock Up 0.7 %

Shares of Arthur J. Gallagher & Co. stock opened at $188.42 on Monday. The stock’s 50-day moving average is $177.76 and its 200 day moving average is $169.42. Arthur J. Gallagher & Co. has a one year low of $142.53 and a one year high of $191.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $39.63 billion, a price-to-earnings ratio of 38.06, a PEG ratio of 2.42 and a beta of 0.67.

Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The financial services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 16.62% and a net margin of 12.31%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the business earned $1.17 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 7.78 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Thursday, September 1st. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 41.21%.

Arthur J. Gallagher & Co. Company Profile

(Get Rating)

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, third-party claims settlement, and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. It operates through Brokerage and Risk Management segments.

See Also

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J. Gallagher & Co. (NYSE:AJG – Get Rating).

Receive News & Ratings for Arthur J. Gallagher & Co. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Arthur J. Gallagher & Co. and related companies with MarketBeat.com’s FREE daily email newsletter.