Prudential Financial Inc. Buys 870 Shares of Arthur J. Gallagher & Co. (AJG)

Prudential Financial Inc. grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,738 shares of the financial services provider’s stock after buying an additional 870 shares during the period. Prudential Financial Inc. owned 0.14% of Arthur J. Gallagher & Co. worth $15,310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AJG. Citadel Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. by 785.9% in the second quarter. Citadel Advisors LLC now owns 2,362,782 shares of the financial services provider’s stock valued at $135,269,000 after buying an additional 2,096,062 shares during the period. Janus Henderson Group PLC increased its stake in shares of Arthur J. Gallagher & Co. by 8,471.3% in the second quarter. Janus Henderson Group PLC now owns 1,852,944 shares of the financial services provider’s stock valued at $106,081,000 after buying an additional 1,831,326 shares during the period. American Century Companies Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 4,730.8% in the second quarter. American Century Companies Inc. now owns 1,550,935 shares of the financial services provider’s stock valued at $88,791,000 after buying an additional 1,518,830 shares during the period. Principal Financial Group Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 97.9% in the second quarter. Principal Financial Group Inc. now owns 1,242,484 shares of the financial services provider’s stock valued at $71,132,000 after buying an additional 614,788 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 3.2% in the second quarter. Vanguard Group Inc. now owns 18,149,660 shares of the financial services provider’s stock valued at $1,039,067,000 after buying an additional 571,235 shares during the period. 81.09% of the stock is owned by institutional investors.

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 3,601 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $57.78, for a total value of $208,065.78. Following the completion of the sale, the insider now owns 4,055 shares of the company’s stock, valued at $234,297.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank E. Jr. English sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $63.67, for a total value of $95,505.00. Following the completion of the sale, the director now directly owns 10,600 shares of the company’s stock, valued at approximately $674,902. The disclosure for this sale can be found here. Insiders have sold 15,068 shares of company stock valued at $901,391 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Several brokerages have recently weighed in on AJG. Zacks Investment Research raised Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Barclays PLC increased their price target on Arthur J. Gallagher & Co. from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Citigroup Inc. increased their price target on Arthur J. Gallagher & Co. from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. Royal Bank Of Canada reissued a “hold” rating and issued a $59.00 price target on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, October 10th. Finally, Deutsche Bank AG cut Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and set a $64.00 price target for the company. in a research note on Wednesday, October 4th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $64.38.

Shares of Arthur J. Gallagher & Co. (AJG) opened at $65.97 on Monday. Arthur J. Gallagher & Co. has a one year low of $48.97 and a one year high of $66.12. The company has a market capitalization of $11,927.31, a P/E ratio of 22.75, a P/E/G ratio of 2.22 and a beta of 1.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.08.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.79 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 13.56% and a net margin of 7.62%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. analysts forecast that Arthur J. Gallagher & Co. will post 2.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.56 annualized dividend and a yield of 2.36%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 62.40%.

TRADEMARK VIOLATION WARNING: This piece of content was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://sportsperspectives.com/2017/11/20/prudential-financial-inc-buys-870-shares-of-arthur-j-gallagher-co-ajg.html.

Arthur J. Gallagher & Co. Company Profile

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.

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)

Receive News & Ratings for Arthur J. Gallagher & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arthur J. Gallagher & Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply