Arthur J. Gallagher & Co. (AJG) Shares Bought by Thrivent Financial For Lutherans

Thrivent Financial For Lutherans raised its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,745 shares of the financial services provider’s stock after buying an additional 370 shares during the period. Thrivent Financial For Lutherans’ holdings in Arthur J. Gallagher & Co. were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AJG. Cleararc Capital Inc. increased its position in Arthur J. Gallagher & Co. by 0.9% in the first quarter. Cleararc Capital Inc. now owns 4,349 shares of the financial services provider’s stock valued at $246,000 after buying an additional 40 shares during the period. Advantus Capital Management Inc increased its position in Arthur J. Gallagher & Co. by 0.4% in the first quarter. Advantus Capital Management Inc now owns 17,875 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 70 shares during the period. Charter Trust Co. boosted its position in shares of Arthur J. Gallagher & Co. by 1.0% in the first quarter. Charter Trust Co. now owns 9,313 shares of the financial services provider’s stock valued at $527,000 after buying an additional 88 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 2.1% in the first quarter. Sunbelt Securities Inc. now owns 4,704 shares of the financial services provider’s stock valued at $266,000 after buying an additional 96 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,176 shares of the financial services provider’s stock valued at $180,000 after buying an additional 99 shares in the last quarter. 82.16% of the stock is currently owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. (AJG) opened at 58.42 on Friday. Arthur J. Gallagher & Co. has a 12 month low of $47.16 and a 12 month high of $59.64. The firm’s 50-day moving average price is $58.00 and its 200 day moving average price is $56.63. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 23.56 and a beta of 1.19.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. Arthur J. Gallagher & Co. had a return on equity of 13.68% and a net margin of 7.62%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, analysts anticipate that Arthur J. Gallagher & Co. will post $3.00 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Wednesday, August 30th. Arthur J. Gallagher & Co.’s payout ratio is currently 62.90%.

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Several research analysts have recently issued reports on AJG shares. BidaskClub upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Wells Fargo & Company restated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Thursday, April 27th. Zacks Investment Research cut shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. Citigroup Inc. cut shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, Barclays PLC lifted their price target on shares of Arthur J. Gallagher & Co. from $61.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, July 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $59.33.

In related news, VP William F. Ziebell sold 7,764 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $56.59, for a total transaction of $439,364.76. Following the sale, the vice president now owns 8,495 shares of the company’s stock, valued at $480,732.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank E. Jr. English sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $58.49, for a total value of $58,490.00. Following the sale, the director now directly owns 12,100 shares in the company, valued at approximately $707,729. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,829 shares of company stock worth $2,904,780. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Company Profile

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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