Sawgrass Asset Management LLC Acquires 650 Shares of Arthur J Gallagher & Co (NYSE:AJG)

Sawgrass Asset Management LLC boosted its holdings in Arthur J Gallagher & Co (NYSE:AJG) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,540 shares of the financial services provider’s stock after buying an additional 650 shares during the period. Sawgrass Asset Management LLC’s holdings in Arthur J Gallagher & Co were worth $573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AJG. Zions Bancorporation N.A. acquired a new stake in shares of Arthur J Gallagher & Co during the 1st quarter worth approximately $25,000. Private Ocean LLC acquired a new stake in shares of Arthur J Gallagher & Co during the 1st quarter worth approximately $39,000. Quadrant Capital Group LLC grew its holdings in shares of Arthur J Gallagher & Co by 156.9% during the 1st quarter. Quadrant Capital Group LLC now owns 506 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 309 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in Arthur J Gallagher & Co by 675.7% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 574 shares of the financial services provider’s stock valued at $45,000 after buying an additional 500 shares in the last quarter. Finally, Thor Advisors LLC acquired a new stake in Arthur J Gallagher & Co in the 1st quarter valued at $67,000. 80.90% of the stock is currently owned by institutional investors.

AJG traded up $0.11 during trading on Friday, hitting $90.08. The company’s stock had a trading volume of 955,989 shares, compared to its average volume of 1,093,170. The company’s 50 day moving average price is $89.83. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.77. Arthur J Gallagher & Co has a 12 month low of $68.19 and a 12 month high of $92.74. The company has a market capitalization of $16.83 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 2.58 and a beta of 0.83.

Arthur J Gallagher & Co (NYSE:AJG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.04. Arthur J Gallagher & Co had a return on equity of 14.19% and a net margin of 9.77%. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company posted $0.62 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, analysts predict that Arthur J Gallagher & Co will post 3.64 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $0.43 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.72 annualized dividend and a yield of 1.91%. Arthur J Gallagher & Co’s payout ratio is 49.86%.

In other Arthur J Gallagher & Co news, Director William L. Bax sold 1,200 shares of Arthur J Gallagher & Co stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $85.11, for a total value of $102,132.00. Following the completion of the transaction, the director now owns 40,570 shares in the company, valued at approximately $3,452,912.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Susan E. Pietrucha sold 1,990 shares of Arthur J Gallagher & Co stock in a transaction on Friday, May 24th. The shares were sold at an average price of $84.29, for a total value of $167,737.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,440 shares of company stock valued at $476,869. Corporate insiders own 1.30% of the company’s stock.

Several analysts recently commented on the company. Royal Bank of Canada set a $90.00 price target on Arthur J Gallagher & Co and gave the company a “hold” rating in a research note on Friday, July 26th. Zacks Investment Research raised Arthur J Gallagher & Co from a “sell” rating to a “hold” rating and set a $76.00 price target on the stock in a research note on Tuesday, July 23rd. SunTrust Banks boosted their price target on Arthur J Gallagher & Co to $95.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Wells Fargo & Co lifted their price objective on Arthur J Gallagher & Co from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Finally, Barclays lifted their price objective on Arthur J Gallagher & Co from $97.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, July 1st. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $88.00.

Arthur J Gallagher & Co Company 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.

Read More: Economic Bubble

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.