Arthur J Gallagher & Co (NYSE:AJG) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board cut its holdings in Arthur J Gallagher & Co (NYSE:AJG) by 69.9% during the first quarter, HoldingsChannel reports. The firm owned 13,077 shares of the financial services provider’s stock after selling 30,350 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Arthur J Gallagher & Co were worth $1,066,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. M&G Investment Management Ltd. acquired a new position in shares of Arthur J Gallagher & Co during the fourth quarter worth about $286,103,000. Norges Bank acquired a new position in shares of Arthur J Gallagher & Co during the fourth quarter worth about $168,800,000. FIL Ltd increased its stake in shares of Arthur J Gallagher & Co by 198.3% during the fourth quarter. FIL Ltd now owns 1,086,231 shares of the financial services provider’s stock worth $103,441,000 after acquiring an additional 722,030 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Arthur J Gallagher & Co by 31.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,888,380 shares of the financial services provider’s stock worth $275,060,000 after acquiring an additional 684,715 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in shares of Arthur J Gallagher & Co by 70.2% during the fourth quarter. Nuveen Asset Management LLC now owns 1,222,237 shares of the financial services provider’s stock worth $116,394,000 after acquiring an additional 504,222 shares during the period. Institutional investors own 80.53% of the company’s stock.

In other Arthur J Gallagher & Co news, VP Scott R. Hudson sold 15,100 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $103.11, for a total value of $1,556,961.00. Following the sale, the vice president now owns 40,082 shares of the company’s stock, valued at $4,132,855.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

AJG has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Arthur J Gallagher & Co from $87.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, May 18th. Credit Suisse Group boosted their price target on shares of Arthur J Gallagher & Co from $104.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Cfra boosted their price target on shares of Arthur J Gallagher & Co from $82.00 to $97.00 and gave the stock a “hold” rating in a research note on Wednesday. Deutsche Bank lowered their target price on shares of Arthur J Gallagher & Co from $92.00 to $90.00 and set a “hold” rating on the stock in a research report on Tuesday, March 17th. Finally, Keefe, Bruyette & Woods upgraded shares of Arthur J Gallagher & Co from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $107.00 to $110.00 in a research report on Monday, March 16th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Arthur J Gallagher & Co presently has a consensus rating of “Buy” and a consensus price target of $100.30.

Shares of AJG opened at $91.10 on Friday. Arthur J Gallagher & Co has a twelve month low of $65.09 and a twelve month high of $109.46. The firm has a market capitalization of $17.26 billion, a P/E ratio of 25.73, a PEG ratio of 2.13 and a beta of 0.69. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The firm’s 50-day moving average is $82.46 and its two-hundred day moving average is $91.82.

Arthur J Gallagher & Co (NYSE:AJG) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. Arthur J Gallagher & Co had a net margin of 9.63% and a return on equity of 15.29%. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the prior year, the firm earned $1.63 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts predict that Arthur J Gallagher & Co will post 3.93 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, June 4th. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is presently 49.32%.

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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