Clear Harbor Asset Management LLC Has $2.84 Million Position in Arthur J Gallagher & Co (NYSE:AJG)

Clear Harbor Asset Management LLC trimmed its stake in shares of Arthur J Gallagher & Co (NYSE:AJG) by 6.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,840 shares of the financial services provider’s stock after selling 3,166 shares during the period. Clear Harbor Asset Management LLC’s holdings in Arthur J Gallagher & Co were worth $2,837,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AJG. Riverhead Capital Management LLC lifted its holdings in Arthur J Gallagher & Co by 4.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,969 shares of the financial services provider’s stock valued at $342,000 after buying an additional 276 shares in the last quarter. Teachers Advisors LLC lifted its holdings in Arthur J Gallagher & Co by 7.7% during the 2nd quarter. Teachers Advisors LLC now owns 235,619 shares of the financial services provider’s stock valued at $13,489,000 after buying an additional 16,851 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Arthur J Gallagher & Co by 7.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 342,861 shares of the financial services provider’s stock valued at $19,629,000 after buying an additional 22,898 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Arthur J Gallagher & Co by 10.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 370,768 shares of the financial services provider’s stock valued at $21,225,000 after buying an additional 34,523 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Arthur J Gallagher & Co by 2.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 32,360 shares of the financial services provider’s stock valued at $1,852,000 after buying an additional 753 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

In other Arthur J Gallagher & Co news, General Counsel Walter D. Bay sold 1,500 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $70.15, for a total transaction of $105,225.00. Following the completion of the transaction, the general counsel now directly owns 13,284 shares in the company, valued at $931,872.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank E. Jr. English sold 600 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $63.71, for a total transaction of $38,226.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $637,100. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,200 shares of company stock valued at $1,442,355. Company insiders own 1.60% of the company’s stock.

A number of research firms have commented on AJG. Citigroup raised their target price on shares of Arthur J Gallagher & Co from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Zacks Investment Research raised shares of Arthur J Gallagher & Co from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a research report on Monday, January 29th. SunTrust Banks reissued a “buy” rating and set a $75.00 target price on shares of Arthur J Gallagher & Co in a research report on Friday, January 26th. Wells Fargo & Co reissued a “buy” rating and set a $74.00 target price on shares of Arthur J Gallagher & Co in a research report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $77.00 target price on shares of Arthur J Gallagher & Co in a research report on Friday, December 22nd. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $71.44.

Arthur J Gallagher & Co (NYSE:AJG) traded up $1.22 during trading hours on Wednesday, reaching $68.20. 777,436 shares of the company’s stock traded hands, compared to its average volume of 1,230,000. The stock has a market cap of $12,330.00, a P/E ratio of 26.85, a PEG ratio of 1.67 and a beta of 1.24. Arthur J Gallagher & Co has a 12 month low of $54.50 and a 12 month high of $70.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.08 and a current ratio of 1.05.

Arthur J Gallagher & Co (NYSE:AJG) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.75 by $0.07. Arthur J Gallagher & Co had a net margin of 7.52% and a return on equity of 13.95%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the business posted $0.66 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. research analysts anticipate that Arthur J Gallagher & Co will post 3.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be paid a $0.41 dividend. This is a boost from Arthur J Gallagher & Co’s previous quarterly dividend of $0.39. This represents a $1.64 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, March 1st. Arthur J Gallagher & Co’s payout ratio is currently 61.42%.

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About Arthur J Gallagher & Co

Arthur J. Gallagher & Co and its subsidiaries are engaged in providing insurance brokerage and consulting services, and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate.

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

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