Iberiabank Corp Has $697,000 Holdings in Arthur J Gallagher & Co (AJG)

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Iberiabank Corp boosted its stake in Arthur J Gallagher & Co (NYSE:AJG) by 43.8% during the third quarter, HoldingsChannel.com reports. The firm owned 9,367 shares of the financial services provider’s stock after buying an additional 2,854 shares during the period. Iberiabank Corp’s holdings in Arthur J Gallagher & Co were worth $697,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AJG. Dupont Capital Management Corp increased its stake in shares of Arthur J Gallagher & Co by 92.3% during the second quarter. Dupont Capital Management Corp now owns 1,579 shares of the financial services provider’s stock valued at $103,000 after buying an additional 758 shares during the period. Braun Bostich & Associates Inc. increased its stake in shares of Arthur J Gallagher & Co by 528.7% during the second quarter. Braun Bostich & Associates Inc. now owns 1,773 shares of the financial services provider’s stock valued at $116,000 after buying an additional 1,491 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Arthur J Gallagher & Co during the second quarter valued at approximately $127,000. Cerebellum GP LLC purchased a new position in shares of Arthur J Gallagher & Co during the third quarter valued at approximately $185,000. Finally, Summit X LLC purchased a new position in shares of Arthur J Gallagher & Co during the second quarter valued at approximately $207,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of AJG stock opened at $71.25 on Friday. The firm has a market capitalization of $13.59 billion, a P/E ratio of 23.18, a PEG ratio of 2.09 and a beta of 1.13. Arthur J Gallagher & Co has a twelve month low of $61.49 and a twelve month high of $76.49. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.11 and a current ratio of 1.11.

Arthur J Gallagher & Co (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.62 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.62. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Arthur J Gallagher & Co had a return on equity of 15.93% and a net margin of 9.34%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, equities analysts anticipate that Arthur J Gallagher & Co will post 3.44 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 7th were paid a $0.41 dividend. The ex-dividend date was Thursday, September 6th. This represents a $1.64 annualized dividend and a yield of 2.30%. Arthur J Gallagher & Co’s payout ratio is 53.59%.

In related news, Director Frank E. Jr. English sold 2,000 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $72.07, for a total value of $144,140.00. Following the sale, the director now directly owns 8,400 shares of the company’s stock, valued at $605,388. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Richard C. Cary sold 12,667 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $71.95, for a total value of $911,390.65. Following the completion of the sale, the chief accounting officer now directly owns 34,793 shares in the company, valued at $2,503,356.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,752 shares of company stock worth $3,193,109. 1.60% of the stock is owned by insiders.

Several research firms have recently issued reports on AJG. ValuEngine raised Arthur J Gallagher & Co from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Credit Suisse Group set a $84.00 target price on Arthur J Gallagher & Co and gave the company a “buy” rating in a research note on Tuesday, September 25th. William Blair reissued a “buy” rating on shares of Arthur J Gallagher & Co in a research note on Thursday, August 16th. Royal Bank of Canada reissued a “hold” rating and set a $73.00 target price on shares of Arthur J Gallagher & Co in a research note on Friday, July 27th. Finally, Wells Fargo & Co reissued a “buy” rating and set a $78.00 target price on shares of Arthur J Gallagher & Co in a research note on Friday, July 27th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $77.50.

Arthur J Gallagher & Co 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.

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

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