Geode Capital Management LLC Acquires 174,340 Shares of Arthur J. Gallagher & Co. (AJG)

Geode Capital Management LLC boosted its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 10.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,768,881 shares of the financial services provider’s stock after buying an additional 174,340 shares during the period. Geode Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $99,871,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in Arthur J. Gallagher & Co. by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,176 shares of the financial services provider’s stock valued at $180,000 after buying an additional 99 shares during the period. Coconut Grove Bank boosted its stake in Arthur J. Gallagher & Co. by 92.5% in the first quarter. Coconut Grove Bank now owns 3,330 shares of the financial services provider’s stock valued at $188,000 after buying an additional 1,600 shares during the period. Court Place Advisors LLC bought a new stake in Arthur J. Gallagher & Co. during the first quarter valued at approximately $201,000. Koch Industries Inc. bought a new stake in Arthur J. Gallagher & Co. during the first quarter valued at approximately $210,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Arthur J. Gallagher & Co. during the first quarter valued at approximately $215,000. 83.14% of the stock is owned by institutional investors.

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

Shares of Arthur J. Gallagher & Co. (AJG) traded down 0.59% during trading on Tuesday, hitting $58.66. 576,914 shares of the stock were exchanged. Arthur J. Gallagher & Co. has a 52 week low of $43.90 and a 52 week high of $59.11. The firm’s 50 day moving average price is $56.54 and its 200-day moving average price is $55.03. The stock has a market cap of $10.53 billion, a P/E ratio of 24.80 and a beta of 1.18.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. Arthur J. Gallagher & Co. had a net margin of 7.42% and a return on equity of 13.56%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm posted $0.34 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts predict that Arthur J. Gallagher & Co. will post $3.02 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.66%. The ex-dividend date was Wednesday, May 31st. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 65.82%.

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AJG has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, April 28th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Friday, June 9th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, June 14th. Zacks Investment Research raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Monday, April 10th. Finally, Citigroup Inc. raised their price objective on shares of Arthur J. Gallagher & Co. from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, April 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus target price of $55.86.

In related news, insider Susan E. Pietrucha sold 4,133 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $56.06, for a total transaction of $231,695.98. Following the transaction, the insider now directly owns 112 shares of the company’s stock, valued at $6,278.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William F. Ziebell sold 7,764 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $56.59, for a total transaction of $439,364.76. Following the transaction, the vice president now directly owns 8,495 shares in the company, valued at $480,732.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,897 shares of company stock worth $1,906,551. 1.60% of the stock is owned by insiders.

About Arthur J. Gallagher & Co.

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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