CCM Investment Advisers LLC cut its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 17.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,255 shares of the financial services provider’s stock after selling 3,750 shares during the period. CCM Investment Advisers LLC’s holdings in Arthur J. Gallagher & Co. were worth $987,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AJG. Catalyst Capital Advisors LLC raised its position in shares of Arthur J. Gallagher & Co. by 28.6% in the second quarter. Catalyst Capital Advisors LLC now owns 45,000 shares of the financial services provider’s stock valued at $2,576,000 after buying an additional 10,000 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Arthur J. Gallagher & Co. by 4.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 24,820 shares of the financial services provider’s stock valued at $1,460,000 after buying an additional 963 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Arthur J. Gallagher & Co. by 7.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 797,998 shares of the financial services provider’s stock valued at $45,686,000 after buying an additional 58,734 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at approximately $292,000. Finally, Morgan Dempsey Capital Management LLC raised its position in shares of Arthur J. Gallagher & Co. by 5.0% in the second quarter. Morgan Dempsey Capital Management LLC now owns 68,907 shares of the financial services provider’s stock valued at $3,946,000 after buying an additional 3,252 shares in the last quarter. Hedge funds and other institutional investors own 82.16% of the company’s stock.

Shares of Arthur J. Gallagher & Co. (AJG) opened at 58.42 on Friday. Arthur J. Gallagher & Co. has a 12-month low of $47.16 and a 12-month high of $59.64. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 23.56 and a beta of 1.19. The firm’s 50-day moving average is $58.00 and its 200-day moving average is $56.63.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.01. Arthur J. Gallagher & Co. had a net margin of 7.62% and a return on equity of 13.68%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm earned $0.96 earnings per share. Arthur J. Gallagher & Co.’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts forecast that Arthur J. Gallagher & Co. will post $3.00 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.56 annualized dividend and a yield of 2.67%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 62.90%.

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Several brokerages have recently commented on AJG. Barclays PLC upped their price objective on shares of Arthur J. Gallagher & Co. from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup Inc. upped their price objective on shares of Arthur J. Gallagher & Co. from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. Zacks Investment Research upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Wells Fargo & Company restated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Thursday, July 27th. Finally, BidaskClub upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Arthur J. Gallagher & Co. has an average rating of “Hold” and an average price target of $59.33.

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 4,133 shares of the business’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 transaction of $231,695.98. Following the completion of the sale, the insider now directly owns 112 shares in the company, valued at $6,278.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas K. Howell sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $58.85, for a total transaction of $1,177,000.00. Following the sale, the chief financial officer now owns 47,800 shares of the company’s stock, valued at $2,813,030. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,829 shares of company stock valued at $2,904,780. 1.60% of the stock is owned by 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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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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