ARP Americas LP Makes New $292,000 Investment in Arthur J Gallagher & Co (NYSE:AJG)

ARP Americas LP purchased a new position in Arthur J Gallagher & Co (NYSE:AJG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,000 shares of the financial services provider’s stock, valued at approximately $292,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AJG. EFG Asset Management Americas Corp. lifted its position in Arthur J Gallagher & Co by 19.5% during the second quarter. EFG Asset Management Americas Corp. now owns 15,468 shares of the financial services provider’s stock valued at $1,508,000 after purchasing an additional 2,528 shares during the period. Chartwell Investment Partners LLC raised its position in shares of Arthur J Gallagher & Co by 1.3% in the second quarter. Chartwell Investment Partners LLC now owns 249,809 shares of the financial services provider’s stock worth $24,353,000 after acquiring an additional 3,262 shares during the period. State of Michigan Retirement System raised its position in shares of Arthur J Gallagher & Co by 13.3% in the second quarter. State of Michigan Retirement System now owns 48,454 shares of the financial services provider’s stock worth $4,724,000 after acquiring an additional 5,702 shares during the period. Tompkins Financial Corp raised its position in shares of Arthur J Gallagher & Co by 3.5% in the second quarter. Tompkins Financial Corp now owns 50,295 shares of the financial services provider’s stock worth $4,903,000 after acquiring an additional 1,692 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of Arthur J Gallagher & Co in the second quarter worth about $1,536,000. 81.39% of the stock is currently owned by institutional investors and hedge funds.

NYSE AJG traded up $2.92 during trading hours on Friday, hitting $107.49. 1,009,838 shares of the company’s stock traded hands, compared to its average volume of 749,477. Arthur J Gallagher & Co has a 52-week low of $65.09 and a 52-week high of $109.46. The company has a market capitalization of $20.38 billion, a PE ratio of 28.66, a PEG ratio of 2.46 and a beta of 0.75. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The firm’s 50-day moving average is $99.12 and its 200-day moving average is $93.48.

Arthur J Gallagher & Co (NYSE:AJG) last posted its earnings results on Thursday, July 30th. The financial services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.22. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.64 billion. Arthur J Gallagher & Co had a net margin of 10.35% and a return on equity of 16.38%. Equities research analysts predict that Arthur J Gallagher & Co will post 4.02 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.80 annualized dividend and a yield of 1.67%. Arthur J Gallagher & Co’s payout ratio is 49.32%.

A number of brokerages have weighed in on AJG. SunTrust Banks upped their price objective on shares of Arthur J Gallagher & Co from $110.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Cfra upped their price objective on shares of Arthur J Gallagher & Co from $82.00 to $97.00 and gave the stock a “hold” rating in a research report on Wednesday, May 20th. Morgan Stanley boosted their target price on shares of Arthur J Gallagher & Co from $102.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 15th. Deutsche Bank raised shares of Arthur J Gallagher & Co from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Monday, July 6th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $98.00 target price on shares of Arthur J Gallagher & Co in a research note on Sunday, May 3rd. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Arthur J Gallagher & Co has a consensus rating of “Buy” and a consensus price target of $109.90.

In other Arthur J Gallagher & Co news, Director David S. Johnson sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $97.97, for a total value of $97,970.00. Following the transaction, the director now directly owns 48,178 shares in the company, valued at approximately $4,719,998.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

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 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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