CIBC Asset Management Inc Has $17.58 Million Holdings in Arthur J. Gallagher & Co. $AJG

CIBC Asset Management Inc lowered its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 11.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,769 shares of the financial services provider’s stock after selling 7,614 shares during the period. CIBC Asset Management Inc’s holdings in Arthur J. Gallagher & Co. were worth $17,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of AJG. J.Safra Asset Management Corp increased its position in shares of Arthur J. Gallagher & Co. by 209.1% in the 2nd quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock valued at $32,000 after buying an additional 69 shares in the last quarter. Rakuten Securities Inc. grew its stake in Arthur J. Gallagher & Co. by 650.0% in the second quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 91 shares during the period. Central Pacific Bank Trust Division increased its holdings in shares of Arthur J. Gallagher & Co. by 40.6% in the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 39 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the second quarter worth about $45,000. Finally, Solstein Capital LLC bought a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at about $49,000. 85.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

AJG has been the topic of a number of research reports. Wells Fargo & Company cut their price target on Arthur J. Gallagher & Co. from $328.00 to $311.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. TD Cowen restated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Friday, October 31st. Wall Street Zen downgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Barclays cut their price target on shares of Arthur J. Gallagher & Co. from $250.00 to $247.00 and set an “underweight” rating on the stock in a research report on Thursday, January 8th. Finally, Mizuho set a $277.00 price objective on Arthur J. Gallagher & Co. in a report on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $290.50.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock opened at $253.13 on Monday. The company has a market capitalization of $65.00 billion, a price-to-earnings ratio of 37.84 and a beta of 0.67. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 12 month low of $236.34 and a 12 month high of $351.23. The stock’s 50 day moving average is $253.76 and its 200-day moving average is $278.43.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.32 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.19). Arthur J. Gallagher & Co. had a net margin of 13.58% and a return on equity of 11.98%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the company posted $2.26 earnings per share. The company’s revenue was up 20.2% on a year-over-year basis. Equities research analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, December 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 38.86%.

Insiders Place Their Bets

In other news, General Counsel Walter D. Bay sold 15,850 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $255.00, for a total value of $4,041,750.00. Following the completion of the transaction, the general counsel owned 79,549 shares of the company’s stock, valued at approximately $20,284,995. This represents a 16.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael Robert Pesch acquired 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average cost of $247.12 per share, for a total transaction of $988,480.00. Following the acquisition, the vice president owned 41,849 shares in the company, valued at $10,341,724.88. This represents a 10.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 32,100 shares of company stock valued at $8,243,865 over the last ninety days. 1.30% of the stock is owned by insiders.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.