OLD Republic International Corp continued to hold its stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the second quarter, Holdings Channel reports. The firm owned 904,400 shares of the financial services provider’s stock at the end of the second quarter. Arthur J. Gallagher & Co. comprises approximately 1.7% of OLD Republic International Corp’s investment portfolio, making the stock its 15th largest position. OLD Republic International Corp’s holdings in Arthur J. Gallagher & Co. were worth $51,777,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AJG. Pacer Advisors Inc. boosted its stake 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 period. Court Place Advisors LLC purchased a new position in Arthur J. Gallagher & Co. during the first quarter worth $201,000. Koch Industries Inc. purchased a new position in Arthur J. Gallagher & Co. during the first quarter worth $210,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Arthur J. Gallagher & Co. during the first quarter worth $215,000. 82.16% of the stock is owned by institutional investors and hedge funds.

Shares of Arthur J. Gallagher & Co. (AJG) opened at 58.42 on Friday. The stock has a 50 day moving average price of $58.00 and a 200 day moving average price of $56.63. The firm has a market cap of $10.53 billion, a P/E ratio of 23.56 and a beta of 1.19. Arthur J. Gallagher & Co. has a 12-month low of $47.16 and a 12-month high of $59.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01. Arthur J. Gallagher & Co. had a return on equity of 13.68% and a net margin of 7.62%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Arthur J. Gallagher & Co. will post $3.00 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued 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 (DPR) is currently 62.90%.

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A number of equities analysts have weighed in on AJG shares. Wells Fargo & Company reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, June 14th. BidaskClub raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $62.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Friday, June 9th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $54.00 price target on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 12th. Finally, Zacks Investment Research raised Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $59.33.

In related news, insider Susan E. Pietrucha sold 4,133 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was 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 owns 112 shares in the company, valued at $6,278.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas K. Howell sold 20,000 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $58.85, for a total value of $1,177,000.00. Following the sale, the chief financial officer now owns 47,800 shares of the company’s stock, valued at approximately $2,813,030. The disclosure for this sale can be found here. Insiders have sold 49,829 shares of company stock valued at $2,904,780 in the last quarter. 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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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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