Arthur J Gallagher & Co (NYSE:AJG) Shares Sold by Millennium Management LLC

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Millennium Management LLC decreased its position in shares of Arthur J Gallagher & Co (NYSE:AJG) by 45.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 254,410 shares of the financial services provider’s stock after selling 215,945 shares during the period. Millennium Management LLC’s holdings in Arthur J Gallagher & Co were worth $22,787,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. grew its stake in shares of Arthur J Gallagher & Co by 59.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 211,330 shares of the financial services provider’s stock valued at $16,504,000 after acquiring an additional 78,599 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Arthur J Gallagher & Co by 4.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 79,964 shares of the financial services provider’s stock valued at $7,003,000 after purchasing an additional 3,625 shares in the last quarter. AE Wealth Management LLC purchased a new stake in Arthur J Gallagher & Co during the 2nd quarter worth approximately $290,000. Commerzbank Aktiengesellschaft FI increased its holdings in Arthur J Gallagher & Co by 401.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 16,654 shares of the financial services provider’s stock worth $1,459,000 after purchasing an additional 13,333 shares during the last quarter. Finally, Manning & Napier Group LLC increased its holdings in Arthur J Gallagher & Co by 23.1% during the 2nd quarter. Manning & Napier Group LLC now owns 14,155 shares of the financial services provider’s stock worth $1,238,000 after purchasing an additional 2,655 shares during the last quarter. 82.73% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:AJG opened at $92.23 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $17.40 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 2.62 and a beta of 0.80. Arthur J Gallagher & Co has a one year low of $68.19 and a one year high of $93.59. The stock has a 50-day simple moving average of $91.01 and a 200 day simple moving average of $89.13.

Arthur J Gallagher & Co (NYSE:AJG) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. Arthur J Gallagher & Co had a return on equity of 14.38% and a net margin of 9.69%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Arthur J Gallagher & Co’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Arthur J Gallagher & Co will post 3.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.43 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.72 annualized dividend and a dividend yield of 1.86%. Arthur J Gallagher & Co’s payout ratio is 49.86%.

In related news, Director Frank E. Jr. English sold 1,450 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $91.46, for a total transaction of $132,617.00. Following the transaction, the director now directly owns 7,150 shares in the company, valued at $653,939. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan E. Pietrucha sold 18,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $90.33, for a total value of $1,625,940.00. Following the transaction, the insider now owns 4,967 shares in the company, valued at $448,669.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,049 shares of company stock valued at $2,089,665. Insiders own 1.30% of the company’s stock.

Several equities analysts have recently commented on AJG shares. Barclays set a $107.00 target price on Arthur J Gallagher & Co and gave the company a “buy” rating in a research note on Monday, August 12th. ValuEngine lowered shares of Arthur J Gallagher & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada set a $91.00 price target on shares of Arthur J Gallagher & Co and gave the stock a “hold” rating in a research note on Friday, October 25th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $93.00 price target (up from $88.00) on shares of Arthur J Gallagher & Co in a report on Wednesday, August 7th. Finally, SunTrust Banks increased their price objective on shares of Arthur J Gallagher & Co from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $93.71.

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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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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