BB&T Corp Decreases Stake in Arthur J. Gallagher & Co. (AJG)

BB&T Corp lessened its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,495 shares of the financial services provider’s stock after selling 2,634 shares during the quarter. BB&T Corp’s holdings in Arthur J. Gallagher & Co. were worth $2,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AJG. FMR LLC lifted its position in shares of Arthur J. Gallagher & Co. by 0.3% in the first quarter. FMR LLC now owns 1,067,375 shares of the financial services provider’s stock valued at $60,349,000 after acquiring an additional 3,059 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 6.3% in the first quarter. Teachers Advisors LLC now owns 218,768 shares of the financial services provider’s stock valued at $12,369,000 after purchasing an additional 13,032 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of Arthur J. Gallagher & Co. by 5.8% in the first quarter. Thrivent Financial For Lutherans now owns 6,745 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 370 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at approximately $398,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at approximately $215,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Shares of Arthur J. Gallagher & Co. (NYSE:AJG) opened at 62.54 on Monday. The firm has a market cap of $11.27 billion, a PE ratio of 25.22 and a beta of 1.21. The firm’s 50-day moving average price is $61.49 and its 200 day moving average price is $58.38. Arthur J. Gallagher & Co. has a 1-year low of $47.16 and a 1-year high of $63.20.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Arthur J. Gallagher & Co. had a return on equity of 13.56% and a net margin of 7.62%. Arthur J. Gallagher & Co.’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post $2.99 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.56 annualized dividend and a yield of 2.49%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 62.40%.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 9,967 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $59.98, for a total value of $597,820.66. Following the completion of the transaction, the chief financial officer now directly owns 47,767 shares in the company, valued at approximately $2,865,064.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Susan E. Pietrucha sold 6,932 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $59.28, for a total value of $410,928.96. Following the completion of the transaction, the insider now owns 3,253 shares of the company’s stock, valued at $192,837.84. The disclosure for this sale can be found here. Insiders sold a total of 30,500 shares of company stock valued at $1,804,115 over the last quarter. 1.60% of the stock is currently owned by insiders.

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Several research firms recently commented on AJG. BidaskClub cut Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Citigroup Inc. increased their price target on Arthur J. Gallagher & Co. from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, July 13th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $54.00 price target on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 12th. Zacks Investment Research raised Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Barclays PLC increased their price target on Arthur J. Gallagher & Co. from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $64.38.

Arthur J. Gallagher & Co. 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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