Arthur J. Gallagher & Co. (AJG) Shares Sold by Cadence Capital Management LLC

Cadence Capital Management LLC lessened its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 7.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,463 shares of the financial services provider’s stock after selling 1,331 shares during the quarter. Cadence Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $1,013,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Citadel Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 785.9% in the 2nd quarter. Citadel Advisors LLC now owns 2,362,782 shares of the financial services provider’s stock valued at $135,269,000 after buying an additional 2,096,062 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Arthur J. Gallagher & Co. by 8,471.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,852,944 shares of the financial services provider’s stock valued at $106,081,000 after buying an additional 1,831,326 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 4,730.8% in the 2nd quarter. American Century Companies Inc. now owns 1,550,935 shares of the financial services provider’s stock valued at $88,791,000 after buying an additional 1,518,830 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 97.9% in the 2nd quarter. Principal Financial Group Inc. now owns 1,242,484 shares of the financial services provider’s stock valued at $71,132,000 after buying an additional 614,788 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 18,149,660 shares of the financial services provider’s stock valued at $1,039,067,000 after buying an additional 571,235 shares in the last quarter. 82.55% of the stock is currently owned by institutional investors.

In related news, CFO Douglas K. Howell sold 9,967 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 47,767 shares in the company, valued at approximately $2,865,064.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank E. Jr. English sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $63.67, for a total value of $95,505.00. Following the completion of the sale, the director now owns 10,600 shares of the company’s stock, valued at $674,902. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Several equities research analysts recently commented on the company. 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. Wells Fargo & Company reissued a “buy” rating and issued a $66.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Sunday, September 17th. Deutsche Bank cut 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. ValuEngine cut Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Royal Bank Of Canada reissued 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. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $64.38.

Shares of Arthur J. Gallagher & Co. (AJG) opened at $66.57 on Monday. Arthur J. Gallagher & Co. has a 1-year low of $48.97 and a 1-year high of $67.32. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $12,035.79, a P/E ratio of 22.95, a P/E/G ratio of 2.24 and a beta of 1.23.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the company earned $0.77 EPS. The company’s revenue for the quarter 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 business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors 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 2.34%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 62.40%.

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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.

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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