Sumitomo Mitsui Trust Holdings Inc. Has $57.33 Million Position in Arthur J Gallagher & Co (AJG)

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Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Arthur J Gallagher & Co (NYSE:AJG) by 4.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 733,991 shares of the financial services provider’s stock after purchasing an additional 28,319 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Arthur J Gallagher & Co were worth $57,325,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Destination Wealth Management boosted its position in Arthur J Gallagher & Co by 308.2% during the 4th quarter. Destination Wealth Management now owns 396 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 299 shares during the period. Private Ocean LLC acquired a new position in Arthur J Gallagher & Co during the 1st quarter valued at approximately $39,000. Quadrant Capital Group LLC boosted its position in Arthur J Gallagher & Co by 156.9% during the 1st quarter. Quadrant Capital Group LLC now owns 506 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 309 shares during the period. Lindbrook Capital LLC acquired a new position in Arthur J Gallagher & Co during the 4th quarter valued at approximately $47,000. Finally, Synovus Financial Corp boosted its position in Arthur J Gallagher & Co by 32.2% during the 4th quarter. Synovus Financial Corp now owns 863 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 81.93% of the company’s stock.

A number of research analysts recently issued reports on AJG shares. Zacks Investment Research upgraded Arthur J Gallagher & Co from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Wells Fargo & Co restated a “buy” rating and issued a $85.00 price objective on shares of Arthur J Gallagher & Co in a report on Thursday, January 31st. Barclays upped their price objective on Arthur J Gallagher & Co from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, April 1st. SunTrust Banks upped their price objective on Arthur J Gallagher & Co to $95.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Morgan Stanley upped their price objective on Arthur J Gallagher & Co from $77.00 to $81.00 and gave the company an “equal weight” rating in a report on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $84.67.

Shares of Arthur J Gallagher & Co stock opened at $84.28 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $15.61 billion, a PE ratio of 24.43, a PEG ratio of 2.28 and a beta of 0.92. Arthur J Gallagher & Co has a fifty-two week low of $64.54 and a fifty-two week high of $84.81.

Arthur J Gallagher & Co (NYSE:AJG) last announced its earnings results on Thursday, April 25th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.96 billion. Arthur J Gallagher & Co had a return on equity of 14.33% and a net margin of 9.79%. Arthur J Gallagher & Co’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 earnings per share. Equities analysts anticipate that Arthur J Gallagher & Co will post 3.74 earnings per share for the current fiscal year.

The business also recently announced 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, June 6th. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is presently 49.86%.

In other news, VP Scott R. Hudson sold 10,200 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $78.99, for a total transaction of $805,698.00. Following the sale, the vice president now directly owns 31,612 shares of the company’s stock, valued at $2,497,031.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Richard C. Cary sold 6,134 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $83.48, for a total value of $512,066.32. Following the sale, the chief accounting officer now directly owns 35,193 shares in the company, valued at $2,937,911.64. The disclosure for this sale can be found here. Insiders have sold 30,734 shares of company stock worth $2,462,300 over the last ninety days. 1.30% of the stock is owned by insiders.

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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.

Further Reading: Are all No-Load Funds Equal?

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

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