BB&T Corp Lowers Stake in Arthur J. Gallagher & Co. (AJG)

BB&T Corp cut its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,495 shares of the financial services provider’s stock after selling 2,634 shares during the period. BB&T Corp’s holdings in Arthur J. Gallagher & Co. were worth $2,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AJG. Pacer Advisors Inc. grew its stake in Arthur J. Gallagher & Co. by 8.2% during the 2nd quarter. Pacer Advisors Inc. now owns 3,437 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 261 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $202,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at $215,000. Gilbert & Cook Inc. acquired a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter valued at $224,000. Finally, Blair William & Co. IL acquired a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth $224,000. 81.08% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. (AJG) traded down $0.14 during trading on Tuesday, hitting $63.94. 589,600 shares of the stock traded hands, compared to its average volume of 811,547. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $11,650.00, a PE ratio of 22.10, a P/E/G ratio of 2.16 and a beta of 1.22. Arthur J. Gallagher & Co. has a fifty-two week low of $48.97 and a fifty-two week high of $64.45.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.39 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.44%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 62.15%.

In other Arthur J. Gallagher & Co. news, insider Susan E. Pietrucha sold 3,601 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $57.78, for a total transaction of $208,065.78. Following the transaction, the insider now directly owns 4,055 shares in the company, valued at $234,297.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank E. Jr. English sold 1,500 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $63.67, for a total value of $95,505.00. Following the sale, the director now owns 10,600 shares of the company’s stock, valued at $674,902. The disclosure for this sale can be found here. Insiders sold a total of 15,068 shares of company stock worth $901,391 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

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A number of research analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Thursday, July 27th. Credit Suisse Group AG increased their price target on shares of Arthur J. Gallagher & Co. from $68.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. BidaskClub raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research cut Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Finally, Barclays PLC upped their price objective on Arthur J. Gallagher & Co. from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $64.38.

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.

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

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