Arthur J Gallagher & Co (AJG) Shares Sold by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL reduced its holdings in shares of Arthur J Gallagher & Co (NYSE:AJG) by 0.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 468,600 shares of the financial services provider’s stock after selling 3,100 shares during the period. Virginia Retirement Systems ET AL owned about 0.26% of Arthur J Gallagher & Co worth $34,883,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AJG. Dupont Capital Management Corp lifted its stake in shares of Arthur J Gallagher & Co by 92.3% during the 2nd quarter. Dupont Capital Management Corp now owns 1,579 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 758 shares during the last quarter. Braun Bostich & Associates Inc. lifted its stake in shares of Arthur J Gallagher & Co by 528.7% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,773 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 1,491 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Arthur J Gallagher & Co during the 2nd quarter worth approximately $127,000. Cerebellum GP LLC bought a new stake in shares of Arthur J Gallagher & Co during the 3rd quarter worth approximately $185,000. Finally, Court Place Advisors LLC bought a new stake in shares of Arthur J Gallagher & Co during the 3rd quarter worth approximately $201,000. 81.72% of the stock is owned by hedge funds and other institutional investors.

In other news, VP William F. Ziebell sold 12,500 shares of Arthur J Gallagher & Co stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $74.78, for a total value of $934,750.00. Following the transaction, the vice president now directly owns 16,792 shares in the company, valued at approximately $1,255,705.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Richard C. Cary sold 12,667 shares of Arthur J Gallagher & Co stock in a transaction on Friday, August 17th. The shares were sold at an average price of $71.95, for a total value of $911,390.65. Following the completion of the transaction, the chief accounting officer now owns 34,793 shares in the company, valued at $2,503,356.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,252 shares of company stock valued at $2,944,259. 1.60% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently issued reports on the company. ValuEngine raised Arthur J Gallagher & Co from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Credit Suisse Group set a $84.00 price target on Arthur J Gallagher & Co and gave the stock a “buy” rating in a research note on Tuesday, September 25th. Wells Fargo & Co reissued a “buy” rating and set a $85.00 price target on shares of Arthur J Gallagher & Co in a research note on Thursday, October 25th. William Blair reissued a “buy” rating on shares of Arthur J Gallagher & Co in a research note on Thursday, August 16th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $73.00 price target on shares of Arthur J Gallagher & Co in a research note on Friday, July 27th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $78.20.

Shares of NYSE AJG opened at $76.14 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $13.71 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 1.99 and a beta of 1.00. Arthur J Gallagher & Co has a twelve month low of $62.04 and a twelve month high of $76.49.

Arthur J Gallagher & Co (NYSE:AJG) last issued its earnings results on Thursday, October 25th. The financial services provider reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.69 billion. Arthur J Gallagher & Co had a return on equity of 15.50% and a net margin of 9.04%. Research analysts expect that Arthur J Gallagher & Co will post 3.44 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 6th. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is presently 53.59%.

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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 to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

Further Reading: Short Selling Stocks, A Beginner’s Guide

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

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