Occidental Asset Management LLC Sells 120 Shares of Arthur J Gallagher & Co (NYSE:AJG)

Occidental Asset Management LLC lessened its stake in shares of Arthur J Gallagher & Co (NYSE:AJG) by 2.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,297 shares of the financial services provider’s stock after selling 120 shares during the period. Occidental Asset Management LLC’s holdings in Arthur J Gallagher & Co were worth $464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AJG. Cullen Frost Bankers Inc. bought a new stake in shares of Arthur J Gallagher & Co in the second quarter worth $141,000. Sigma Planning Corp grew its stake in shares of Arthur J Gallagher & Co by 16.0% in the second quarter. Sigma Planning Corp now owns 3,748 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 518 shares during the last quarter. Barbara Oil Co. grew its stake in shares of Arthur J Gallagher & Co by 10.0% in the second quarter. Barbara Oil Co. now owns 16,500 shares of the financial services provider’s stock worth $1,445,000 after purchasing an additional 1,500 shares during the last quarter. Amica Retiree Medical Trust grew its stake in shares of Arthur J Gallagher & Co by 199.3% in the second quarter. Amica Retiree Medical Trust now owns 2,933 shares of the financial services provider’s stock worth $257,000 after purchasing an additional 1,953 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Arthur J Gallagher & Co by 41.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 62,027 shares of the financial services provider’s stock worth $5,396,000 after purchasing an additional 18,112 shares during the last quarter. 80.88% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on AJG. Barclays set a $107.00 price objective on shares of Arthur J Gallagher & Co and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada set a $90.00 price objective on shares of Arthur J Gallagher & Co and gave the stock a “hold” rating in a research note on Friday, July 26th. Morgan Stanley boosted their price objective on shares of Arthur J Gallagher & Co from $77.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Credit Suisse Group reissued an “outperform” rating and issued a $93.00 price objective (up previously from $88.00) on shares of Arthur J Gallagher & Co in a research note on Wednesday, August 7th. Finally, Zacks Investment Research raised shares of Arthur J Gallagher & Co from a “sell” rating to a “hold” rating and set a $76.00 price objective on the stock in a research note on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Arthur J Gallagher & Co presently has a consensus rating of “Buy” and an average price target of $90.00.

AJG stock traded up $0.50 during midday trading on Thursday, hitting $88.42. The stock had a trading volume of 19,193 shares, compared to its average volume of 1,149,539. The firm has a market cap of $16.51 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 2.53 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.77. Arthur J Gallagher & Co has a 1-year low of $68.19 and a 1-year high of $92.74. The company’s fifty day moving average price is $90.40.

Arthur J Gallagher & Co (NYSE:AJG) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.04. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.76 billion. Arthur J Gallagher & Co had a net margin of 9.77% and a return on equity of 14.19%. Arthur J Gallagher & Co’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. Analysts predict that Arthur J Gallagher & Co will post 3.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.43 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.72 annualized dividend and a yield of 1.95%. Arthur J Gallagher & Co’s payout ratio is 49.86%.

In related news, Director Kay W. Mccurdy sold 2,250 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $92.00, for a total value of $207,000.00. Following the transaction, the director now owns 32,482 shares in the company, valued at $2,988,344. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Susan E. Pietrucha sold 1,990 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $84.29, for a total transaction of $167,737.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,440 shares of company stock worth $476,869. 1.30% of the stock is owned by company insiders.

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.

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

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