State Board of Administration of Florida Retirement System cut its holdings in shares of Arthur J Gallagher & Co (NYSE:AJG) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 218,577 shares of the financial services provider’s stock after selling 3,954 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Arthur J Gallagher & Co were worth $17,071,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AJG. JPMorgan Chase & Co. boosted its holdings 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 acquiring an additional 115,903 shares during the period. Legal & General Group Plc boosted its stake in shares of Arthur J Gallagher & Co by 2.2% in the third quarter. Legal & General Group Plc now owns 967,469 shares of the financial services provider’s stock valued at $72,015,000 after buying an additional 20,686 shares during the period. Vanguard Group Inc boosted its stake in shares of Arthur J Gallagher & Co by 1.3% in the third quarter. Vanguard Group Inc now owns 19,570,551 shares of the financial services provider’s stock valued at $1,456,832,000 after buying an additional 259,584 shares during the period. Altfest L J & Co. Inc. bought a new stake in shares of Arthur J Gallagher & Co in the fourth quarter valued at approximately $214,000. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in shares of Arthur J Gallagher & Co by 2.6% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 123,319 shares of the financial services provider’s stock valued at $9,089,000 after buying an additional 3,105 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

In other news, VP Scott R. Hudson sold 10,200 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $78.99, for a total transaction of $805,698.00. Following the transaction, the vice president now owns 31,612 shares of the company’s stock, valued at approximately $2,497,031.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Walter D. Bay sold 13,800 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $80.00, for a total transaction of $1,104,000.00. Following the transaction, the general counsel now directly owns 26,084 shares in the company, valued at approximately $2,086,720. The disclosure for this sale can be found here. Insiders have sold a total of 49,534 shares of company stock worth $3,963,150 in the last three months. Insiders own 1.30% of the company’s stock.

AJG has been the subject of several recent research reports. 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 restated a “buy” rating and set a $93.00 price objective on shares of Arthur J Gallagher & Co in a research report on Friday, April 26th. Morgan Stanley boosted their price objective on shares of Arthur J Gallagher & Co from $77.00 to $81.00 and gave the company an “equal weight” rating in a research report on Monday, April 29th. Zacks Investment Research upgraded shares of Arthur J Gallagher & Co from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Finally, Barclays boosted their price objective on shares of Arthur J Gallagher & Co from $87.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Arthur J Gallagher & Co currently has a consensus rating of “Buy” and an average price target of $84.22.

AJG stock opened at $82.48 on Thursday. The stock has a market cap of $15.18 billion, a PE ratio of 23.91, a P/E/G ratio of 2.23 and a beta of 0.92. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.74. Arthur J Gallagher & Co has a 1 year low of $64.54 and a 1 year high of $84.14.

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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.02. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Arthur J Gallagher & Co had a net margin of 9.79% and a return on equity of 14.33%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 EPS. As a group, sell-side analysts expect that Arthur J Gallagher & Co will post 3.74 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.09%. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is presently 49.86%.

TRADEMARK VIOLATION NOTICE: This report was first reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The correct version of this report can be viewed at https://theolympiareport.com/2019/05/16/arthur-j-gallagher-co-ajg-holdings-trimmed-by-state-board-of-administration-of-florida-retirement-system.html.

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.

Recommended Story: Futures Contract

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J Gallagher & Co (NYSE:AJG).

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.