Mutual of America Capital Management LLC Sells 210 Shares of Arthur J. Gallagher & Co. $AJG

Mutual of America Capital Management LLC lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,369 shares of the financial services provider’s stock after selling 210 shares during the period. Mutual of America Capital Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $9,402,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 30,411,264 shares of the financial services provider’s stock valued at $10,499,185,000 after purchasing an additional 739,130 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Arthur J. Gallagher & Co. by 38.3% during the 1st quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider’s stock valued at $5,997,767,000 after purchasing an additional 4,815,007 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Arthur J. Gallagher & Co. by 4.9% during the 1st quarter. Wellington Management Group LLP now owns 2,959,673 shares of the financial services provider’s stock valued at $1,021,798,000 after purchasing an additional 137,354 shares during the last quarter. WCM Investment Management LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 5.5% during the 2nd quarter. WCM Investment Management LLC now owns 2,464,662 shares of the financial services provider’s stock valued at $783,097,000 after purchasing an additional 128,071 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Arthur J. Gallagher & Co. by 0.4% during the 1st quarter. Northern Trust Corp now owns 2,364,759 shares of the financial services provider’s stock valued at $816,409,000 after purchasing an additional 9,458 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Barclays lowered their price target on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating for the company in a report on Monday, July 7th. Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a report on Wednesday, August 13th. Wells Fargo & Company increased their price target on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 3rd. They issued a “buy” rating and a $344.00 price target for the company. Finally, UBS Group increased their price target on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the company a “neutral” rating in a report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $331.43.

Insider Buying and Selling

In other news, CFO Douglas K. Howell sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the transaction, the chief financial officer directly owned 100,777 shares of the company’s stock, valued at approximately $30,186,742.58. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Scott R. Hudson sold 12,855 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the transaction, the vice president directly owned 85,920 shares in the company, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,855 shares of company stock worth $8,916,928. Corporate insiders own 1.30% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $280.70 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. Arthur J. Gallagher & Co. has a 1-year low of $275.56 and a 1-year high of $351.23. The firm has a market capitalization of $71.97 billion, a P/E ratio of 39.87 and a beta of 0.73. The company’s 50-day moving average is $299.55 and its 200 day moving average is $313.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period last year, the company earned $2.29 earnings per share. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, September 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is 36.93%.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.