Citigroup Inc. raised its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 142,437 shares of the financial services provider’s stock after acquiring an additional 2,179 shares during the period. Citigroup Inc. owned approximately 0.08% of Arthur J. Gallagher & Co. worth $8,154,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AJG. Profund Advisors LLC grew its position in Arthur J. Gallagher & Co. by 10.4% during the first quarter. Profund Advisors LLC now owns 6,005 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 568 shares during the period. American Century Companies Inc. grew its position in Arthur J. Gallagher & Co. by 9.3% during the first quarter. American Century Companies Inc. now owns 32,105 shares of the financial services provider’s stock valued at $1,815,000 after acquiring an additional 2,742 shares during the period. UBS Asset Management Americas Inc. grew its position in Arthur J. Gallagher & Co. by 13.9% during the first quarter. UBS Asset Management Americas Inc. now owns 460,928 shares of the financial services provider’s stock valued at $26,061,000 after acquiring an additional 56,077 shares during the period. Karp Capital Management Corp purchased a new stake in Arthur J. Gallagher & Co. during the first quarter valued at about $1,709,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Arthur J. Gallagher & Co. by 29.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,250 shares of the financial services provider’s stock valued at $749,000 after acquiring an additional 3,050 shares during the period. 81.29% of the stock is owned by hedge funds and other institutional investors.

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In related news, insider Susan E. Pietrucha sold 6,932 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $59.28, for a total value of $410,928.96. Following the completion of the sale, the insider now owns 3,253 shares in the company, valued at $192,837.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Douglas K. Howell sold 9,967 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $59.98, for a total transaction of $597,820.66. Following the completion of the sale, the chief financial officer now owns 47,767 shares of the company’s stock, valued at approximately $2,865,064.66. The disclosure for this sale can be found here. Insiders have sold 30,500 shares of company stock valued at $1,804,115 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

A number of brokerages have commented on AJG. BidaskClub upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Citigroup Inc. boosted their price objective on Arthur J. Gallagher & Co. from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, July 13th. Barclays PLC boosted their price objective on Arthur J. Gallagher & Co. from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods restated a “buy” rating and set a $62.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Friday, June 9th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $54.00 price objective 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 assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $62.50.

Arthur J. Gallagher & Co. (NYSE AJG) opened at 60.65 on Friday. Arthur J. Gallagher & Co. has a 1-year low of $47.16 and a 1-year high of $61.44. The company has a 50 day moving average price of $58.80 and a 200 day moving average price of $57.32. The firm has a market cap of $10.93 billion, a PE ratio of 24.46 and a beta of 1.20.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $1.54 billion. During the same period in the prior year, the company earned $0.96 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post $3.00 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Wednesday, August 30th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 62.90%.

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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