Professional Advisory Services Inc. Has $14.49 Million Holdings in Arthur J Gallagher & Co (AJG)

Professional Advisory Services Inc. reduced its position in Arthur J Gallagher & Co (NYSE:AJG) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,569 shares of the financial services provider’s stock after selling 8,198 shares during the period. Arthur J Gallagher & Co makes up about 2.9% of Professional Advisory Services Inc.’s holdings, making the stock its 18th biggest holding. Professional Advisory Services Inc.’s holdings in Arthur J Gallagher & Co were worth $14,493,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Arthur J Gallagher & Co by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 3,682,827 shares of the financial services provider’s stock worth $274,149,000 after purchasing an additional 115,903 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Arthur J Gallagher & Co by 8.9% during the third quarter. Nordea Investment Management AB now owns 56,024 shares of the financial services provider’s stock worth $4,171,000 after purchasing an additional 4,570 shares during the last quarter. Standard Life Aberdeen plc lifted its position in shares of Arthur J Gallagher & Co by 8.0% during the third quarter. Standard Life Aberdeen plc now owns 73,424 shares of the financial services provider’s stock worth $5,466,000 after purchasing an additional 5,417 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Arthur J Gallagher & Co by 2.2% during the third quarter. Legal & General Group Plc now owns 967,469 shares of the financial services provider’s stock worth $72,015,000 after purchasing an additional 20,686 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Arthur J Gallagher & Co by 12.3% during the third quarter. Morgan Stanley now owns 684,576 shares of the financial services provider’s stock worth $50,959,000 after purchasing an additional 75,237 shares during the last quarter. 82.84% of the stock is owned by institutional investors.

In related news, General Counsel Walter D. Bay sold 13,800 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $80.00, for a total transaction of $1,104,000.00. Following the sale, the general counsel now owns 26,084 shares in the company, valued at $2,086,720. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Douglas K. Howell sold 13,600 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $79.27, for a total transaction of $1,078,072.00. Following the sale, the chief financial officer now owns 47,577 shares in the company, valued at approximately $3,771,428.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,700 shares of company stock worth $3,470,046. 1.30% of the stock is owned by company insiders.

AJG has been the topic of several research analyst reports. SunTrust Banks increased their price target on shares of Arthur J Gallagher & Co to $95.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Co reaffirmed a “buy” rating and set a $93.00 price target on shares of Arthur J Gallagher & Co in a research report on Friday. Morgan Stanley increased their price target on shares of Arthur J Gallagher & Co from $77.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Monday. Zacks Investment Research reiterated a “hold” rating and set a $80.00 price objective on shares of Arthur J Gallagher & Co in a research note on Monday, December 31st. Finally, Barclays increased their price objective on shares of Arthur J Gallagher & Co from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Arthur J Gallagher & Co has a consensus rating of “Buy” and an average price target of $84.22.

AJG traded up $0.01 on Monday, hitting $83.16. 36,877 shares of the company’s stock were exchanged, compared to its average volume of 955,069. The firm has a market cap of $15.40 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 2.23 and a beta of 0.91. Arthur J Gallagher & Co has a twelve month low of $64.54 and a twelve month high of $84.14. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.68.

Arthur J Gallagher & Co (NYSE:AJG) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.02. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.96 billion. Arthur J Gallagher & Co had a net margin of 9.79% and a return on equity of 14.64%. Arthur J Gallagher & Co’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 earnings per share. Research analysts anticipate that Arthur J Gallagher & Co will post 3.78 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.72 annualized dividend and a yield of 2.07%. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is 49.86%.

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About Arthur J Gallagher & Co

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

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