Arthur J Gallagher & Co (NYSE:AJG) Shares Bought by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. boosted its position in Arthur J Gallagher & Co (NYSE:AJG) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,466,510 shares of the financial services provider’s stock after acquiring an additional 42,193 shares during the quarter. Burgundy Asset Management Ltd. owned 0.81% of Arthur J Gallagher & Co worth $90,264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AJG. Invictus RG bought a new position in Arthur J Gallagher & Co in the third quarter valued at $130,000. Pacer Advisors Inc. increased its stake in Arthur J Gallagher & Co by 8.2% in the second quarter. Pacer Advisors Inc. now owns 3,437 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 261 shares during the last quarter. Eagle Boston Investment Management Inc. bought a new position in Arthur J Gallagher & Co in the third quarter valued at $201,000. Coldstream Capital Management Inc. bought a new position in Arthur J Gallagher & Co in the second quarter valued at $202,000. Finally, Doyle Wealth Management bought a new position in Arthur J Gallagher & Co in the third quarter valued at $203,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Shares of Arthur J Gallagher & Co (NYSE AJG) traded down $0.35 during trading hours on Friday, hitting $63.28. The stock had a trading volume of 487,087 shares, compared to its average volume of 1,490,000. Arthur J Gallagher & Co has a 52-week low of $51.63 and a 52-week high of $67.32. The company has a market capitalization of $11,440.00, a PE ratio of 25.31, a P/E/G ratio of 2.14 and a beta of 1.23. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.66.

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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Arthur J Gallagher & Co had a return on equity of 13.56% and a net margin of 7.62%. Arthur J Gallagher & Co’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. research analysts expect that Arthur J Gallagher & Co will post 2.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.56 annualized dividend and a dividend yield of 2.47%. Arthur J Gallagher & Co’s payout ratio is presently 62.40%.

A number of research firms recently commented on AJG. ValuEngine cut Arthur J Gallagher & Co from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Royal Bank of Canada reissued a “hold” rating and issued a $64.00 target price on shares of Arthur J Gallagher & Co in a research note on Friday, December 8th. Wells Fargo & Co set a $74.00 target price on Arthur J Gallagher & Co and gave the company a “buy” rating in a research note on Friday, December 8th. Zacks Investment Research raised Arthur J Gallagher & Co from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $77.00 price objective on shares of Arthur J Gallagher & Co in a research note on Friday, December 22nd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $68.11.

In related news, Director Frank E. Jr. English sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $63.67, for a total value of $95,505.00. Following the sale, the director now directly owns 10,600 shares of the company’s stock, valued at $674,902. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott R. Hudson sold 7,600 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $65.29, for a total value of $496,204.00. Following the completion of the sale, the vice president now directly owns 25,027 shares in the company, valued at $1,634,012.83. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

COPYRIGHT VIOLATION WARNING: This report was first reported by Week Herald and is the sole property of of Week Herald. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://weekherald.com/2017/12/30/arthur-j-gallagher-co-ajg-stake-boosted-by-burgundy-asset-management-ltd.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.

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.

Leave a Reply