Canada Pension Plan Investment Board lowered its position in shares of Arthur J Gallagher & Co (NYSE:AJG) by 20.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 121,300 shares of the financial services provider’s stock after selling 31,800 shares during the period. Canada Pension Plan Investment Board’s holdings in Arthur J Gallagher & Co were worth $9,030,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cutler Group LP bought a new position in shares of Arthur J Gallagher & Co in the third quarter worth $101,000. Dupont Capital Management Corp increased its position in shares of Arthur J Gallagher & Co by 92.3% in the second quarter. Dupont Capital Management Corp now owns 1,579 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 758 shares during the period. Braun Bostich & Associates Inc. increased its position in shares of Arthur J Gallagher & Co by 528.7% in the second quarter. Braun Bostich & Associates Inc. now owns 1,773 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 1,491 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Arthur J Gallagher & Co in the second quarter worth $127,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Arthur J Gallagher & Co by 84.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,953 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 895 shares during the period. 81.17% of the stock is owned by institutional investors.

In other Arthur J Gallagher & Co news, VP William F. Ziebell sold 12,500 shares of Arthur J Gallagher & Co stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $74.78, for a total value of $934,750.00. Following the transaction, the vice president now owns 16,792 shares in the company, valued at $1,255,705.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Walter D. Bay sold 3,985 shares of Arthur J Gallagher & Co stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $75.09, for a total value of $299,233.65. Following the completion of the transaction, the general counsel now owns 16,269 shares in the company, valued at approximately $1,221,639.21. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Arthur J Gallagher & Co stock opened at $75.06 on Friday. Arthur J Gallagher & Co has a 12-month low of $62.04 and a 12-month high of $79.03. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 2.03 and a beta of 1.02.

Arthur J Gallagher & Co (NYSE:AJG) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. Arthur J Gallagher & Co had a return on equity of 15.50% and a net margin of 9.04%. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.69 billion. As a group, equities analysts anticipate that Arthur J Gallagher & Co will post 3.44 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, December 6th. Arthur J Gallagher & Co’s dividend payout ratio is presently 53.59%.

A number of brokerages recently commented on AJG. Citigroup set a $78.00 price target on Arthur J Gallagher & Co and gave the stock a “hold” rating in a research report on Friday, October 12th. ValuEngine upgraded Arthur J Gallagher & Co from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. William Blair restated a “buy” rating on shares of Arthur J Gallagher & Co in a research report on Thursday, August 16th. Morgan Stanley raised their price target on Arthur J Gallagher & Co from $71.00 to $77.00 and gave the stock a “hold” rating in a research report on Wednesday, November 14th. Finally, Barclays raised their price target on Arthur J Gallagher & Co from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Monday, November 12th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $78.55.

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Arthur J Gallagher & Co Profile

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.

Read More: Average Daily Trade Volume – What You Need to Know

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J Gallagher & Co (NYSE:AJG).

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

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