Arthur J Gallagher & Co (NYSE:AJG) Position Lifted by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. raised its stake in shares of Arthur J Gallagher & Co (NYSE:AJG) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,323 shares of the financial services provider’s stock after acquiring an additional 3,700 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.05% of Arthur J Gallagher & Co worth $8,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Eastern Bank boosted its stake in Arthur J Gallagher & Co by 0.8% during the 2nd quarter. Eastern Bank now owns 30,068 shares of the financial services provider’s stock valued at $2,634,000 after acquiring an additional 243 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in Arthur J Gallagher & Co by 0.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 35,569 shares of the financial services provider’s stock valued at $3,115,000 after acquiring an additional 288 shares during the last quarter. Cox Capital Mgt LLC boosted its stake in Arthur J Gallagher & Co by 2.7% during the 2nd quarter. Cox Capital Mgt LLC now owns 19,329 shares of the financial services provider’s stock valued at $1,693,000 after acquiring an additional 503 shares during the last quarter. KAMES CAPITAL plc boosted its stake in Arthur J Gallagher & Co by 24.8% during the 2nd quarter. KAMES CAPITAL plc now owns 19,771 shares of the financial services provider’s stock valued at $1,731,000 after acquiring an additional 3,931 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in Arthur J Gallagher & Co by 130.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 2,111 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 1,196 shares during the last quarter. Hedge funds and other institutional investors own 82.49% of the company’s stock.

Shares of NYSE:AJG traded down $0.83 on Friday, reaching $86.98. 1,052,777 shares of the company’s stock were exchanged, compared to its average volume of 833,237. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.51 and a beta of 0.82. Arthur J Gallagher & Co has a fifty-two week low of $68.19 and a fifty-two week high of $92.74. The business’s 50-day moving average is $89.77 and its two-hundred day moving average is $85.24. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.77.

Arthur J Gallagher & Co (NYSE:AJG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.04. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Arthur J Gallagher & Co had a net margin of 9.77% and a return on equity of 14.19%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 earnings per share. Analysts predict that Arthur J Gallagher & Co will post 3.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.98%. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is 49.86%.

In other Arthur J Gallagher & Co news, Director Kay W. Mccurdy sold 2,250 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $92.00, for a total transaction of $207,000.00. Following the sale, the director now directly owns 32,482 shares of the company’s stock, valued at $2,988,344. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

A number of research analysts have commented on AJG shares. Zacks Investment Research upgraded 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. Wells Fargo & Co increased their target price on shares of Arthur J Gallagher & Co from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Credit Suisse Group reissued an “outperform” rating and set a $93.00 target price (up from $88.00) on shares of Arthur J Gallagher & Co in a report on Wednesday, August 7th. Royal Bank of Canada set a $90.00 target price on shares of Arthur J Gallagher & Co and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, Barclays set a $107.00 target price on shares of Arthur J Gallagher & Co and gave the stock a “buy” rating in a report on Monday, August 12th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $90.00.

Arthur J Gallagher & Co 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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