TD Asset Management Inc. lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 10.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 366,274 shares of the financial services provider’s stock after selling 44,951 shares during the period. TD Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $20,969,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its position in Arthur J. Gallagher & Co. by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,176 shares of the financial services provider’s stock worth $180,000 after buying an additional 99 shares during the last quarter. Coconut Grove Bank increased its position in Arthur J. Gallagher & Co. by 92.5% in the first quarter. Coconut Grove Bank now owns 3,330 shares of the financial services provider’s stock worth $188,000 after buying an additional 1,600 shares during the last quarter. Court Place Advisors LLC acquired a new position in Arthur J. Gallagher & Co. during the first quarter worth about $201,000. Koch Industries Inc. acquired a new position in Arthur J. Gallagher & Co. during the first quarter worth about $210,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Arthur J. Gallagher & Co. during the first quarter worth about $215,000. Institutional investors own 82.16% of the company’s stock.

Shares of Arthur J. Gallagher & Co. (NYSE AJG) opened at 58.42 on Friday. Arthur J. Gallagher & Co. has a 52 week low of $47.16 and a 52 week high of $59.64. The stock has a 50 day moving average price of $58.00 and a 200-day moving average price of $56.63. The company has a market capitalization of $10.53 billion, a PE ratio of 23.56 and a beta of 1.19.

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

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

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A number of research firms have issued reports on AJG. Citigroup Inc. upped their target price on shares of Arthur J. Gallagher & Co. from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Zacks Investment Research raised Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Barclays PLC upped their price target on Arthur J. Gallagher & Co. from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $54.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $59.33.

In related news, VP William F. Ziebell sold 7,764 shares of Arthur J. Gallagher & Co. 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 $480,732.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Joel D. Cavaness sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $58.73, for a total value of $587,300.00. Following the completion of the transaction, the vice president now directly owns 96,186 shares in the company, valued at $5,649,003.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,829 shares of company stock worth $2,904,780. 1.60% of the stock is owned by insiders.

About Arthur J. Gallagher & Co.

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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