Arthur J. Gallagher & Co. (NYSE:AJG) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 5.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,116 shares of the financial services provider’s stock after purchasing an additional 2,190 shares during the quarter. CIBC Asset Management Inc’s holdings in Arthur J. Gallagher & Co. were worth $12,132,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AJG. Capital International Investors lifted its position in shares of Arthur J. Gallagher & Co. by 7.0% during the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after buying an additional 727,325 shares in the last quarter. Capital World Investors lifted its holdings in Arthur J. Gallagher & Co. by 9.0% during the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock valued at $1,208,208,000 after purchasing an additional 398,350 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Arthur J. Gallagher & Co. by 2.7% during the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock worth $425,511,000 after purchasing an additional 42,841 shares in the last quarter. Boston Partners raised its position in shares of Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock worth $402,206,000 after purchasing an additional 38,886 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Arthur J. Gallagher & Co. by 3.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,410,349 shares of the financial services provider’s stock valued at $365,718,000 after buying an additional 50,650 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Price Performance

NYSE:AJG opened at $294.58 on Friday. The stock’s fifty day moving average is $288.49 and its two-hundred day moving average is $274.68. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $64.63 billion, a P/E ratio of 56.11, a P/E/G ratio of 2.54 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the business posted $2.00 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts expect that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This trade represents a 17.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Douglas K. Howell sold 7,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at $21,625,146.84. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,900 shares of company stock valued at $6,892,280. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank of Canada increased their target price on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Jefferies Financial Group increased their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. BMO Capital Markets lifted their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. UBS Group increased their target price on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $289.14.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.