Optimal Asset Management Inc. Raises Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Optimal Asset Management Inc. lifted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 93.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,600 shares of the financial services provider’s stock after purchasing an additional 2,700 shares during the quarter. Optimal Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $699,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. MML Investors Services LLC boosted its holdings in Arthur J. Gallagher & Co. by 15.3% in the 1st quarter. MML Investors Services LLC now owns 68,688 shares of the financial services provider’s stock worth $8,570,000 after acquiring an additional 9,105 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Arthur J. Gallagher & Co. by 12.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,028,582 shares of the financial services provider’s stock valued at $502,646,000 after purchasing an additional 443,262 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Arthur J. Gallagher & Co. by 98.6% in the 1st quarter. First Citizens Bank & Trust Co. now owns 11,988 shares of the financial services provider’s stock valued at $1,495,000 after purchasing an additional 5,951 shares in the last quarter. Capital Bank & Trust Co raised its position in shares of Arthur J. Gallagher & Co. by 2.7% during the 1st quarter. Capital Bank & Trust Co now owns 116,773 shares of the financial services provider’s stock valued at $14,570,000 after acquiring an additional 3,044 shares in the last quarter. Finally, Calamos Advisors LLC raised its position in shares of Arthur J. Gallagher & Co. by 3.2% during the 1st quarter. Calamos Advisors LLC now owns 73,083 shares of the financial services provider’s stock valued at $9,119,000 after acquiring an additional 2,259 shares in the last quarter. Institutional investors and hedge funds own 78.86% of the company’s stock.

Shares of NYSE AJG opened at $140.85 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $29.05 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 2.69 and a beta of 0.69. The firm’s 50-day moving average is $142.63. Arthur J. Gallagher & Co. has a 52 week low of $100.32 and a 52 week high of $154.03.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Wednesday, April 28th. The financial services provider reported $2.02 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $1.92 billion. Arthur J. Gallagher & Co. had a return on equity of 15.89% and a net margin of 11.70%. As a group, analysts predict that Arthur J. Gallagher & Co. will post 5.13 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 18th. Shareholders of record on Friday, June 4th were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, June 3rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.36%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 40.68%.

Several research firms recently issued reports on AJG. Atlantic Securities began coverage on Arthur J. Gallagher & Co. in a research report on Tuesday, July 6th. They set an “overweight” rating and a $175.00 price target on the stock. Keefe, Bruyette & Woods increased their price target on Arthur J. Gallagher & Co. from $148.00 to $159.00 and gave the stock an “outperform” rating in a research note on Friday, June 18th. Royal Bank of Canada increased their price target on Arthur J. Gallagher & Co. from $124.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Friday, April 30th. Deutsche Bank Aktiengesellschaft increased their price target on Arthur J. Gallagher & Co. from $145.00 to $160.00 and gave the stock a “hold” rating in a research note on Tuesday, May 18th. Finally, Morgan Stanley raised their target price on Arthur J. Gallagher & Co. from $135.00 to $147.00 and gave the company an “equal weight” rating in a research note on Thursday, May 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $147.07.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. 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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