Franklin Resources Inc. Has $140.40 Million Holdings in Arthur J Gallagher & Co (AJG)

Franklin Resources Inc. decreased its stake in Arthur J Gallagher & Co (NYSE:AJG) by 11.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,886,110 shares of the financial services provider’s stock after selling 239,180 shares during the quarter. Franklin Resources Inc. owned 1.03% of Arthur J Gallagher & Co worth $140,402,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in AJG. Charles Schwab Investment Advisory Inc. acquired a new position in Arthur J Gallagher & Co in the second quarter valued at about $240,671,000. BlackRock Inc. increased its holdings in shares of Arthur J Gallagher & Co by 8.5% in the third quarter. BlackRock Inc. now owns 15,960,908 shares of the financial services provider’s stock worth $1,188,127,000 after acquiring an additional 1,255,179 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Arthur J Gallagher & Co by 136.2% in the second quarter. Millennium Management LLC now owns 2,030,149 shares of the financial services provider’s stock worth $132,528,000 after acquiring an additional 1,170,683 shares in the last quarter. Baird Financial Group Inc. increased its holdings in shares of Arthur J Gallagher & Co by 6,475.5% in the second quarter. Baird Financial Group Inc. now owns 512,695 shares of the financial services provider’s stock worth $33,469,000 after acquiring an additional 504,898 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its holdings in shares of Arthur J Gallagher & Co by 231.6% in the second quarter. OppenheimerFunds Inc. now owns 650,274 shares of the financial services provider’s stock worth $42,450,000 after acquiring an additional 454,149 shares in the last quarter. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Arthur J Gallagher & Co stock opened at $77.96 on Tuesday. Arthur J Gallagher & Co has a 1 year low of $62.04 and a 1 year high of $79.03. The stock has a market capitalization of $14.15 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 2.06 and a beta of 1.02. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.68.

Arthur J Gallagher & Co (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.01. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.69 billion. Arthur J Gallagher & Co had a return on equity of 15.50% and a net margin of 9.04%. On average, research analysts predict that Arthur J Gallagher & Co will post 3.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.10%. Arthur J Gallagher & Co’s payout ratio is presently 53.59%.

Several equities research analysts have issued reports on the company. Citigroup set a $78.00 price target on Arthur J Gallagher & Co and gave the stock a “hold” rating in a report on Friday, October 12th. ValuEngine upgraded Arthur J Gallagher & Co from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Credit Suisse Group assumed coverage on Arthur J Gallagher & Co in a report on Tuesday, August 7th. They issued an “outperform” rating and a $84.00 price target for the company. William Blair restated a “buy” rating on shares of Arthur J Gallagher & Co in a report on Thursday, August 16th. Finally, Morgan Stanley increased their price target on Arthur J Gallagher & Co from $71.00 to $77.00 and gave the stock a “hold” rating in a report on Wednesday, November 14th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Arthur J Gallagher & Co presently has an average rating of “Buy” and an average price target of $78.55.

In related news, General Counsel Walter D. Bay sold 3,985 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $75.09, for a total transaction of $299,233.65. Following the completion of the transaction, the general counsel now directly owns 16,269 shares in the company, valued at $1,221,639.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William F. Ziebell sold 12,500 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $74.78, for a total value of $934,750.00. Following the transaction, the vice president now owns 16,792 shares of the company’s stock, valued at $1,255,705.76. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

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About Arthur J Gallagher & Co

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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

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