Metropolitan Life Insurance Co. NY Sells 57,207 Shares of Arthur J Gallagher & Co (AJG)

Metropolitan Life Insurance Co. NY reduced its stake in shares of Arthur J Gallagher & Co (NYSE:AJG) by 63.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,250 shares of the financial services provider’s stock after selling 57,207 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Arthur J Gallagher & Co were worth $2,104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Segall Bryant & Hamill LLC bought a new position in Arthur J Gallagher & Co during the 3rd quarter worth $271,000. Wells Fargo & Company MN grew its stake in Arthur J Gallagher & Co by 9.1% during the 4th quarter. Wells Fargo & Company MN now owns 533,707 shares of the financial services provider’s stock worth $33,773,000 after buying an additional 44,715 shares during the last quarter. AXA bought a new position in Arthur J Gallagher & Co during the 3rd quarter worth $10,257,000. Barings LLC bought a new position in Arthur J Gallagher & Co during the 4th quarter worth $202,000. Finally, Chevy Chase Trust Holdings Inc. grew its stake in Arthur J Gallagher & Co by 1.6% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 157,715 shares of the financial services provider’s stock worth $9,708,000 after buying an additional 2,516 shares during the last quarter. Hedge funds and other institutional investors own 83.92% of the company’s stock.

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In other news, insider Susan E. Pietrucha sold 1,500 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $68.76, for a total value of $103,140.00. Following the completion of the transaction, the insider now owns 1,954 shares of the company’s stock, valued at $134,357.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 5,200 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 43,000 shares of the company’s stock, valued at approximately $2,931,310. The disclosure for this sale can be found here. In the last three months, insiders sold 21,766 shares of company stock valued at $1,501,938. Company insiders own 1.60% of the company’s stock.

A number of research analysts recently commented on the company. Wells Fargo set a $78.00 price objective on Arthur J Gallagher & Co and gave the stock a “buy” rating in a research note on Wednesday, March 14th. Sandler O’Neill restated a “hold” rating and set a $71.00 price objective on shares of Arthur J Gallagher & Co in a research note on Thursday, March 15th. William Blair upgraded Arthur J Gallagher & Co from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 8th. Zacks Investment Research upgraded Arthur J Gallagher & Co from a “hold” rating to a “strong-buy” rating and set a $81.00 price objective for the company in a research note on Monday, January 29th. Finally, Barclays restated an “overweight” rating and set a $82.00 price objective (up from $70.00) on shares of Arthur J Gallagher & Co in a research note on Tuesday, February 20th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.00.

Arthur J Gallagher & Co (NYSE:AJG) opened at $66.69 on Monday. Arthur J Gallagher & Co has a 52 week low of $54.50 and a 52 week high of $72.77. The stock has a market capitalization of $12,099.30, a price-to-earnings ratio of 21.79, a PEG ratio of 1.68 and a beta of 1.17. 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 (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 the Thomson Reuters’ 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 prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. research analysts expect that Arthur J Gallagher & Co will post 3.58 EPS for the current year.

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

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Arthur J Gallagher & Co Company 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.

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

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