Today, JPMorgan Chase & Co. invests in 925,561 by buying Arthur J. Gallagher & Co. (AJG) shares

Today, JPMorgan Chase & Co. invests in 925,561 by buying Arthur J. Gallagher & Co. (AJG) shares
JPMorgan Chase & Co. increased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 8.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,072,127 shares of the company’s stock after buying an additional 925,561 shares during the period. JPMorgan Chase & Co. owned approximately 6.78% of Arthur J. Gallagher & Co. worth $614,107,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Arthur J. Gallagher & Co. by 23.4% in the second quarter. Vanguard Group Inc. now owns 15,749,325 shares of the company’s stock worth $749,668,000 after buying an additional 2,987,125 shares during the last quarter. State Street Corp increased its position in shares of Arthur J. Gallagher & Co. by 22.9% in the second quarter. State Street Corp now owns 7,802,461 shares of the company’s stock worth $371,397,000 after buying an additional 1,456,359 shares during the last quarter. Thomaspartners Inc. increased its position in shares of Arthur J. Gallagher & Co. by 5.3% in the second quarter. Thomaspartners Inc. now owns 2,730,810 shares of the company’s stock worth $129,987,000 after buying an additional 136,673 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Arthur J. Gallagher & Co. by 28.9% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,416,335 shares of the company’s stock worth $122,920,000 after buying an additional 541,945 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Arthur J. Gallagher & Co. by 1.4% in the third quarter. Bank of New York Mellon Corp now owns 2,387,625 shares of the company’s stock worth $121,460,000 after buying an additional 33,346 shares during the last quarter. Hedge funds and other institutional investors own 82.10% of the company’s stock.

Shares of Arthur J. Gallagher & Co. (NYSE:AJG) opened at 51.66 on Friday. The stock’s 50 day moving average price is $49.80 and its 200 day moving average price is $48.93. Arthur J. Gallagher & Co. has a one year low of $35.96 and a one year high of $52.34. The stock has a market capitalization of $9.19 billion, a P/E ratio of 24.07 and a beta of 1.10.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.01. Arthur J. Gallagher & Co. had a return on equity of 12.86% and a net margin of 6.88%. The firm earned $1.48 billion during the quarter, compared to analysts’ expectations of $388.20 million. During the same period last year, the firm posted $0.77 EPS. The business’s revenue was up 1.9% on a year-over-year basis. On average, analysts forecast that Arthur J. Gallagher & Co. will post $2.75 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, November 30th. This represents a $1.52 dividend on an annualized basis and a yield of 2.94%. Arthur J. Gallagher & Co.’s dividend payout ratio is 71.03%.

A number of research analysts have issued reports on the company. Goldman Sachs Group Inc. lowered Arthur J. Gallagher & Co. from a “neutral” rating to a “sell” rating in a research report on Tuesday, November 15th. Zacks Investment Research upgraded Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Tuesday, November 1st. Citigroup Inc. boosted their price target on Arthur J. Gallagher & Co. from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 11th. Barclays PLC boosted their price target on Arthur J. Gallagher & Co. from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Sunday, October 2nd. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research report on Tuesday, September 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $51.69.

In related news, Director William L. Bax sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $49.80, for a total transaction of $199,200.00. Following the completion of the sale, the director now directly owns 34,320 shares of the company’s stock, valued at approximately $1,709,136. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan E. Pietrucha sold 6,955 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $50.35, for a total value of $350,184.25. Following the sale, the insider now directly owns 6,955 shares of the company’s stock, valued at $350,184.25. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is engaged in providing insurance brokerage and consulting services and third-party claims settlement and administration services to both domestic and international entities. The Company operates through three segments: brokerage, risk management and corporate. The Company provides insurance, brokerage and risk management services to a range of commercial, industrial, institutional and governmental organizations through its operating segments.

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