Kornitzer Capital Management Inc. KS Lowers Stake in Arthur J. Gallagher & Co. (AJG)

Kornitzer Capital Management Inc. KS cut its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 584,989 shares of the financial services provider’s stock after selling 6,455 shares during the period. Kornitzer Capital Management Inc. KS owned 0.32% of Arthur J. Gallagher & Co. worth $36,006,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its stake in shares of Arthur J. Gallagher & Co. by 1.4% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 217,851 shares of the financial services provider’s stock valued at $13,409,000 after buying an additional 3,010 shares during the period. Andra AP fonden grew its stake in shares of Arthur J. Gallagher & Co. by 12.7% during the 3rd quarter. Andra AP fonden now owns 64,900 shares of the financial services provider’s stock valued at $3,995,000 after buying an additional 7,300 shares during the period. Bollard Group LLC grew its stake in shares of Arthur J. Gallagher & Co. by 5.8% during the 3rd quarter. Bollard Group LLC now owns 46,459 shares of the financial services provider’s stock valued at $2,860,000 after buying an additional 2,562 shares during the period. Victory Capital Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 8.0% during the 3rd quarter. Victory Capital Management Inc. now owns 3,885,066 shares of the financial services provider’s stock valued at $239,126,000 after buying an additional 286,471 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at $1,332,000. 81.38% of the stock is owned by institutional investors.

AJG has been the subject of several research reports. Royal Bank Of Canada reissued a “hold” rating and set a $54.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 12th. Citigroup Inc. boosted their price objective on shares of Arthur J. Gallagher & Co. from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, July 13th. BidaskClub cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Wells Fargo & Company reissued a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $64.38.

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 shares were sold at an average price of $59.98, for a total value of $597,820.66. Following the transaction, the chief financial officer now owns 47,767 shares in the company, valued at approximately $2,865,064.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan E. Pietrucha sold 3,601 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $57.78, for a total transaction of $208,065.78. Following the completion of the transaction, the insider now owns 4,055 shares in the company, valued at approximately $234,297.90. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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Shares of Arthur J. Gallagher & Co. (NYSE AJG) traded down $0.19 during trading on Friday, reaching $63.69. 523,541 shares of the company were exchanged, compared to its average volume of 614,980. The company has a current ratio of 1.08, a quick ratio of 1.05 and a debt-to-equity ratio of 0.66. Arthur J. Gallagher & Co. has a 12-month low of $47.16 and a 12-month high of $64.06. The stock has a market cap of $11,515.09, a PE ratio of 21.96, a price-to-earnings-growth ratio of 2.14 and a beta of 1.22.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. Arthur J. Gallagher & Co. had a net margin of 7.62% and a return on equity of 13.56%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the company earned $0.77 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. analysts predict that Arthur J. Gallagher & Co. will post 2.99 earnings per share for the current year.

The company also recently disclosed 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 is Thursday, November 30th. This represents a $1.56 dividend on an annualized basis and a yield of 2.45%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 62.40%.

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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