Stone Ridge Asset Management LLC Takes $665,000 Position in Arthur J Gallagher & Co (AJG)

Stone Ridge Asset Management LLC purchased a new stake in Arthur J Gallagher & Co (NYSE:AJG) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 10,503 shares of the financial services provider’s stock, valued at approximately $665,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Arthur J Gallagher & Co by 1.3% in the fourth quarter. BlackRock Inc. now owns 14,413,622 shares of the financial services provider’s stock valued at $912,092,000 after purchasing an additional 184,778 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Arthur J Gallagher & Co by 7.7% in the fourth quarter. Victory Capital Management Inc. now owns 4,182,454 shares of the financial services provider’s stock valued at $264,665,000 after purchasing an additional 297,388 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Arthur J Gallagher & Co by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 1,976,703 shares of the financial services provider’s stock valued at $124,823,000 after purchasing an additional 71,887 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in Arthur J Gallagher & Co by 0.8% in the fourth quarter. Champlain Investment Partners LLC now owns 1,711,635 shares of the financial services provider’s stock valued at $108,312,000 after purchasing an additional 14,255 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its holdings in Arthur J Gallagher & Co by 1.9% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,494,936 shares of the financial services provider’s stock valued at $94,600,000 after purchasing an additional 28,426 shares in the last quarter. 83.90% of the stock is owned by hedge funds and other institutional investors.

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In other news, VP Thomas Joseph Gallagher sold 11,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $69.80, for a total transaction of $802,700.00. Following the completion of the sale, the vice president now owns 176,305 shares in the company, valued at $12,306,089. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank E. Jr. English sold 600 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $63.71, for a total value of $38,226.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $637,100. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,766 shares of company stock valued at $1,501,938. 1.60% of the stock is owned by company insiders.

Shares of AJG stock opened at $66.69 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.65. Arthur J Gallagher & Co has a 52 week low of $54.50 and a 52 week high of $72.77. The firm has a market capitalization of $12,440.38, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17.

Arthur J Gallagher & Co (NYSE:AJG) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.07. Arthur J Gallagher & Co had a return on equity of 13.95% and a net margin of 7.52%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. equities research analysts expect that Arthur J Gallagher & Co will post 3.58 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 2nd were paid a $0.41 dividend. The ex-dividend date was Thursday, March 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.46%. This is a boost from Arthur J Gallagher & Co’s previous quarterly dividend of $0.39. Arthur J Gallagher & Co’s payout ratio is currently 64.57%.

A number of equities analysts recently issued reports on the company. Sandler O’Neill reaffirmed a “hold” rating and issued a $71.00 price target on shares of Arthur J Gallagher & Co in a report on Thursday, March 15th. Wells Fargo set a $78.00 price target on Arthur J Gallagher & Co and gave the company a “buy” rating in a report on Wednesday, March 14th. William Blair raised Arthur J Gallagher & Co from a “market perform” rating to an “outperform” rating in a report on Thursday, March 8th. ValuEngine raised Arthur J Gallagher & Co from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Barclays reaffirmed an “overweight” rating and issued a $82.00 price target (up from $70.00) on shares of Arthur J Gallagher & Co in a report on Tuesday, February 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $73.00.

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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.

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

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