Capstone Asset Management Co. decreased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 21,271 shares of the financial services provider’s stock after selling 50 shares during the period. Capstone Asset Management Co.’s holdings in Arthur J. Gallagher & Co. were worth $1,218,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of AJG. Gulf International Bank UK Ltd boosted its stake in shares of Arthur J. Gallagher & Co. by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 55,090 shares of the financial services provider’s stock valued at $3,114,000 after buying an additional 900 shares in the last quarter. Charter Trust Co. boosted its stake in shares of Arthur J. Gallagher & Co. by 1.0% in the first quarter. Charter Trust Co. now owns 9,313 shares of the financial services provider’s stock valued at $527,000 after buying an additional 88 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Arthur J. Gallagher & Co. by 7.8% in the first quarter. Raymond James Trust N.A. now owns 12,344 shares of the financial services provider’s stock valued at $698,000 after buying an additional 895 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at $268,000. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 3.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 154,560 shares of the financial services provider’s stock valued at $8,739,000 after buying an additional 5,285 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of Arthur J. Gallagher & Co. (AJG) opened at 58.27 on Friday. Arthur J. Gallagher & Co. has a 12-month low of $47.16 and a 12-month high of $59.11. The firm has a market cap of $10.46 billion, a PE ratio of 24.64 and a beta of 1.19. The firm’s 50-day moving average is $57.53 and its 200-day moving average is $55.98.
Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, April 27th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. Arthur J. Gallagher & Co. had a return on equity of 13.56% and a net margin of 7.42%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company posted $0.34 EPS. Arthur J. Gallagher & Co.’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts expect that Arthur J. Gallagher & Co. will post $3.02 earnings per share for the current fiscal year.
Several analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, June 14th. BidaskClub cut shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Monday, April 10th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, April 28th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Arthur J. Gallagher & Co. in a report on Tuesday, May 2nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $57.00.
In other Arthur J. Gallagher & Co. news, VP William F. Ziebell sold 7,764 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $56.59, for a total value of $439,364.76. Following the transaction, the vice president now directly owns 8,495 shares of the company’s stock, valued at approximately $480,732.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Susan E. Pietrucha sold 4,133 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $56.06, for a total value of $231,695.98. Following the completion of the transaction, the insider now directly owns 112 shares in the company, valued at $6,278.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,897 shares of company stock worth $1,906,551. 1.60% of the stock is currently owned by corporate insiders.
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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