Mackay Shields LLC Has $2.37 Million Stake in Arthur J Gallagher & Co (NYSE:AJG)

Mackay Shields LLC boosted its holdings in shares of Arthur J Gallagher & Co (NYSE:AJG) by 0.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,020 shares of the financial services provider’s stock after purchasing an additional 163 shares during the period. Mackay Shields LLC’s holdings in Arthur J Gallagher & Co were worth $2,366,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. CSat Investment Advisory L.P. increased its holdings in Arthur J Gallagher & Co by 17.0% during the 4th quarter. CSat Investment Advisory L.P. now owns 646 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 94 shares in the last quarter. Wrapmanager Inc. increased its holdings in Arthur J Gallagher & Co by 3.1% during the 4th quarter. Wrapmanager Inc. now owns 3,128 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 95 shares in the last quarter. Utah Retirement Systems increased its holdings in Arthur J Gallagher & Co by 0.3% during the 4th quarter. Utah Retirement Systems now owns 35,030 shares of the financial services provider’s stock valued at $3,336,000 after purchasing an additional 100 shares in the last quarter. Advisory Services Network LLC increased its holdings in Arthur J Gallagher & Co by 2.6% during the 4th quarter. Advisory Services Network LLC now owns 4,003 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 103 shares in the last quarter. Finally, Mason Street Advisors LLC increased its holdings in Arthur J Gallagher & Co by 0.4% during the 4th quarter. Mason Street Advisors LLC now owns 26,612 shares of the financial services provider’s stock valued at $2,534,000 after purchasing an additional 103 shares in the last quarter. 80.53% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Scott R. Hudson sold 15,100 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 40,082 shares in the company, valued at approximately $4,132,855.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.

NYSE:AJG opened at $91.10 on Friday. Arthur J Gallagher & Co has a 12-month low of $65.09 and a 12-month high of $109.46. 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 firm has a market capitalization of $17.26 billion, a P/E ratio of 23.58, a P/E/G ratio of 2.13 and a beta of 0.69. The stock’s fifty day simple moving average is $82.46 and its 200-day simple moving average is $91.82.

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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.10. Arthur J Gallagher & Co had a return on equity of 15.29% and a net margin of 9.63%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the company earned $1.63 EPS. The firm’s revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts expect that Arthur J Gallagher & Co will post 3.93 earnings per share for the current year.

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

AJG has been the subject of several research reports. Raymond James raised Arthur J Gallagher & Co from a “market perform” rating to a “strong-buy” rating in a research note on Monday, March 23rd. Credit Suisse Group lifted their target price on Arthur J Gallagher & Co from $104.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Wells Fargo & Co lowered their target price on Arthur J Gallagher & Co from $112.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Cfra lifted their target price on Arthur J Gallagher & Co from $82.00 to $97.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised Arthur J Gallagher & Co from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $107.00 to $110.00 in a research note on Monday, March 16th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $100.30.

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 to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

Further Reading: Net Income

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

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