Commerce Bank Sells 2,960 Shares of Arthur J Gallagher & Co (NYSE:AJG)

Commerce Bank lessened its stake in Arthur J Gallagher & Co (NYSE:AJG) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,314 shares of the financial services provider’s stock after selling 2,960 shares during the period. Commerce Bank’s holdings in Arthur J Gallagher & Co were worth $4,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AJG. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Arthur J Gallagher & Co by 59.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 211,330 shares of the financial services provider’s stock valued at $16,504,000 after acquiring an additional 78,599 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Arthur J Gallagher & Co by 9.8% in the 4th quarter. Wealthfront Advisers LLC now owns 12,682 shares of the financial services provider’s stock valued at $1,208,000 after acquiring an additional 1,128 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its stake in shares of Arthur J Gallagher & Co by 2.6% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 135,267 shares of the financial services provider’s stock valued at $12,881,000 after acquiring an additional 3,436 shares during the last quarter. Strs Ohio lifted its stake in shares of Arthur J Gallagher & Co by 21.7% in the 4th quarter. Strs Ohio now owns 33,691 shares of the financial services provider’s stock valued at $3,208,000 after acquiring an additional 6,005 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in shares of Arthur J Gallagher & Co by 0.9% in the 4th quarter. State of Michigan Retirement System now owns 45,152 shares of the financial services provider’s stock valued at $4,300,000 after acquiring an additional 400 shares during the last quarter. 80.53% of the stock is owned by institutional investors.

Arthur J Gallagher & Co stock opened at $91.10 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $17.26 billion, a P/E ratio of 25.73, a PEG ratio of 2.13 and a beta of 0.69. The stock’s 50 day moving average is $82.46 and its 200 day moving average is $91.82. Arthur J Gallagher & Co has a twelve month low of $65.09 and a twelve month high of $109.46.

Arthur J Gallagher & Co (NYSE:AJG) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $2.04 billion. Arthur J Gallagher & Co had a return on equity of 15.29% and a net margin of 9.63%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. As a group, equities analysts expect that Arthur J Gallagher & Co will post 3.93 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be paid a $0.45 dividend. The ex-dividend date is Thursday, June 4th. This represents a $1.80 annualized dividend and a dividend yield of 1.98%. Arthur J Gallagher & Co’s payout ratio is currently 49.32%.

In related news, VP Scott R. Hudson sold 15,100 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $103.11, for a total value of $1,556,961.00. Following the sale, the vice president now owns 40,082 shares in the company, valued at approximately $4,132,855.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

AJG has been the topic of a number of recent analyst reports. Raymond James upgraded Arthur J Gallagher & Co from a “market perform” rating to a “strong-buy” rating in a research report on Monday, March 23rd. Royal Bank of Canada reiterated a “buy” rating and issued a $98.00 price target on shares of Arthur J Gallagher & Co in a report on Sunday, May 3rd. Deutsche Bank decreased their price objective on shares of Arthur J Gallagher & Co from $92.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, March 17th. Cfra lifted their target price on shares of Arthur J Gallagher & Co from $82.00 to $97.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Credit Suisse Group upped their target price on Arthur J Gallagher & Co from $104.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $100.30.

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.

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

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