Paloma Partners Management Co boosted its stake in shares of Arthur J Gallagher & Co (NYSE:AJG) by 1,249.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 53,647 shares of the financial services provider’s stock after acquiring an additional 49,673 shares during the period. Paloma Partners Management Co’s holdings in Arthur J Gallagher & Co were worth $3,396,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new stake in Arthur J Gallagher & Co during the 4th quarter worth about $108,000. Invictus RG purchased a new stake in Arthur J Gallagher & Co during the 3rd quarter worth about $130,000. Cerebellum GP LLC purchased a new stake in Arthur J Gallagher & Co during the 4th quarter worth about $154,000. Oakworth Capital Inc. increased its holdings in shares of Arthur J Gallagher & Co by 49.6% in the 4th quarter. Oakworth Capital Inc. now owns 2,430 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 806 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. purchased a new position in shares of Arthur J Gallagher & Co in the 3rd quarter valued at about $201,000. Institutional investors own 83.91% of the company’s stock.
A number of research analysts have recently commented on AJG shares. SunTrust Banks reiterated a “buy” rating and issued a $75.00 price objective on shares of Arthur J Gallagher & Co in a report on Friday, January 26th. Wells Fargo & Co reiterated a “buy” rating and issued a $74.00 price objective on shares of Arthur J Gallagher & Co in a report on Thursday, January 25th. Zacks Investment Research upgraded Arthur J Gallagher & Co from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Wednesday, December 27th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $77.00 price objective on shares of Arthur J Gallagher & Co in a report on Friday, December 22nd. Finally, ValuEngine upgraded Arthur J Gallagher & Co from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $72.78.
Arthur J Gallagher & Co (NYSE:AJG) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.48 billion. Arthur J Gallagher & Co had a return on equity of 13.95% and a net margin of 7.52%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. sell-side analysts forecast that Arthur J Gallagher & Co will post 3.58 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Thursday, March 1st. This is an increase from Arthur J Gallagher & Co’s previous quarterly dividend of $0.39. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is currently 64.57%.
In related news, insider Susan E. Pietrucha sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $68.76, for a total transaction of $103,140.00. Following the transaction, the insider now owns 1,954 shares in the company, valued at approximately $134,357.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas K. Howell sold 5,200 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $68.17, for a total value of $354,484.00. Following the transaction, the chief financial officer now owns 43,000 shares in the company, valued at approximately $2,931,310. The disclosure for this sale can be found here. Insiders have sold a total of 21,766 shares of company stock worth $1,501,938 in the last 90 days. 1.60% of the stock is currently owned by company insiders.
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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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