Stonebridge Capital Management Inc. reduced its position in shares of Arthur J Gallagher & Co (NYSE:AJG) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,798 shares of the financial services provider’s stock after selling 950 shares during the period. Stonebridge Capital Management Inc.’s holdings in Arthur J Gallagher & Co were worth $2,367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Arthur J Gallagher & Co during the 2nd quarter valued at $240,671,000. Millennium Management LLC grew its position in shares of Arthur J Gallagher & Co by 136.2% during the 2nd quarter. Millennium Management LLC now owns 2,030,149 shares of the financial services provider’s stock valued at $132,528,000 after purchasing an additional 1,170,683 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Arthur J Gallagher & Co by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,207,870 shares of the financial services provider’s stock valued at $83,016,000 after purchasing an additional 10,705 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Arthur J Gallagher & Co by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,014,233 shares of the financial services provider’s stock valued at $66,209,000 after purchasing an additional 3,909 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Arthur J Gallagher & Co by 2.0% during the 1st quarter. Legal & General Group Plc now owns 973,588 shares of the financial services provider’s stock valued at $66,897,000 after purchasing an additional 18,739 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.

NYSE AJG opened at $71.88 on Wednesday. Arthur J Gallagher & Co has a 52-week low of $61.71 and a 52-week high of $76.49. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. The firm has a market cap of $13.59 billion, a PE ratio of 23.49, a P/E/G ratio of 2.09 and a beta of 1.13.

Arthur J Gallagher & Co (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.62. Arthur J Gallagher & Co had a net margin of 9.34% and a return on equity of 15.93%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm posted $0.48 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Arthur J Gallagher & Co will post 3.44 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Friday, September 7th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, September 6th. Arthur J Gallagher & Co’s dividend payout ratio is currently 53.59%.

A number of research firms have recently commented on AJG. Wells Fargo & Co restated a “buy” rating and set a $78.00 price target on shares of Arthur J Gallagher & Co in a research report on Friday, July 27th. Citigroup set a $78.00 price target on shares of Arthur J Gallagher & Co and gave the company a “hold” rating in a research report on Friday, October 12th. ValuEngine upgraded shares of Arthur J Gallagher & Co from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Credit Suisse Group began coverage on shares of Arthur J Gallagher & Co in a research report on Tuesday, August 7th. They set an “outperform” rating and a $84.00 price target for the company. Finally, SunTrust Banks restated a “buy” rating on shares of Arthur J Gallagher & Co in a research report on Thursday, July 26th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $77.50.

In other news, VP William F. Ziebell sold 12,500 shares of Arthur J Gallagher & Co stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $74.78, for a total transaction of $934,750.00. Following the completion of the sale, the vice president now directly owns 16,792 shares of the company’s stock, valued at approximately $1,255,705.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Richard C. Cary sold 12,667 shares of Arthur J Gallagher & Co stock in a transaction on Friday, August 17th. The stock was sold at an average price of $71.95, for a total transaction of $911,390.65. Following the sale, the chief accounting officer now directly owns 34,793 shares of the company’s stock, valued at $2,503,356.35. The disclosure for this sale can be found here. Insiders have sold a total of 43,752 shares of company stock valued at $3,193,109 over the last ninety days. 1.60% of the stock is currently owned by insiders.

About Arthur J Gallagher & Co

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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

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