Arthur J. Gallagher & Co. (AJG) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC reduced its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,758 shares of the financial services provider’s stock after selling 1,314 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Arthur J. Gallagher & Co. were worth $2,078,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 8.2% during the 2nd quarter. Pacer Advisors Inc. now owns 3,437 shares of the financial services provider’s stock worth $197,000 after acquiring an additional 261 shares during the period. Coldstream Capital Management Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $202,000. Doyle Wealth Management bought a new position in shares of Arthur J. Gallagher & Co. during the 3rd quarter worth approximately $203,000. Gilbert & Cook Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $224,000. Finally, Blair William & Co. IL bought a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $224,000. Institutional investors own 81.38% of the company’s stock.

Several brokerages have recently commented on AJG. Zacks Investment Research upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Tuesday. Credit Suisse Group boosted their price target on Arthur J. Gallagher & Co. from $68.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Barclays PLC boosted their price target on Arthur J. Gallagher & Co. from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, October 16th. Deutsche Bank AG downgraded Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and set a $64.00 price target for the company. in a research note on Wednesday, October 4th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $59.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $64.38.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 13.56% and a net margin of 7.62%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the company earned $0.77 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 6.9% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, November 30th. Arthur J. Gallagher & Co.’s payout ratio is currently 62.40%.

In other news, CFO Douglas K. Howell sold 9,967 shares of the firm’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 of the company’s stock, valued at $2,865,064.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan E. Pietrucha sold 3,601 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $57.78, for a total value of $208,065.78. Following the completion of the transaction, the insider now directly owns 4,055 shares of the company’s stock, valued at $234,297.90. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

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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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