Raymond James Financial Services Advisors Inc. lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 13.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,554 shares of the financial services provider’s stock after selling 2,948 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Arthur J. Gallagher & Co. were worth $1,204,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in shares of Arthur J. Gallagher & Co. by 8.2% during the second quarter. Pacer Advisors Inc. now owns 3,437 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 261 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth about $202,000. Doyle Wealth Management purchased a new position in shares of Arthur J. Gallagher & Co. during the third quarter worth about $203,000. Blair William & Co. IL purchased a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth about $224,000. Finally, Ironwood Investment Counsel LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth about $226,000. 82.57% of the stock is currently owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. (NYSE:AJG) traded down $0.59 during midday trading on Friday, hitting $65.83. The company had a trading volume of 3,083,100 shares, compared to its average volume of 859,961. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.08. Arthur J. Gallagher & Co. has a 52-week low of $48.97 and a 52-week high of $67.32. The stock has a market capitalization of $12,046.64, a price-to-earnings ratio of 22.98, a P/E/G ratio of 2.24 and a beta of 1.22.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.02. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Arthur J. Gallagher & Co. had a return on equity of 13.56% and a net margin of 7.62%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. equities analysts forecast that Arthur J. Gallagher & Co. will post 2.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.56 dividend on an annualized basis and a yield of 2.37%. Arthur J. Gallagher & Co.’s payout ratio is currently 62.40%.

Several equities analysts have issued reports on AJG shares. Barclays raised their price objective on Arthur J. Gallagher & Co. from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Zacks Investment Research lowered Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Citigroup raised their price target on Arthur J. Gallagher & Co. from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $62.00 price target on shares of Arthur J. Gallagher & Co. in a report on Friday, August 18th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $59.00 price target on shares of Arthur J. Gallagher & Co. in a report on Tuesday, October 10th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $64.38.

In related news, CFO Douglas K. Howell sold 9,967 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $59.98, for a total value of $597,820.66. Following the completion of the sale, the chief financial officer now owns 47,767 shares in the company, valued at $2,865,064.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frank E. Jr. English sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $63.67, for a total transaction of $95,505.00. Following the completion of the sale, the director now owns 10,600 shares of the company’s stock, valued at approximately $674,902. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

WARNING: This news story was first posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The legal version of this news story can be viewed at https://www.dailypolitical.com/2017/12/01/arthur-j-gallagher-co-ajg-position-reduced-by-raymond-james-financial-services-advisors-inc.html.

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.

Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

Receive News & Ratings for Arthur J. Gallagher & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arthur J. Gallagher & Co. and related companies with MarketBeat.com's FREE daily email newsletter.