Cornerstone Capital Inc. Has $35.59 Million Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Cornerstone Capital Inc. trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 126,473 shares of the financial services provider’s stock after selling 562 shares during the period. Arthur J. Gallagher & Co. comprises approximately 3.3% of Cornerstone Capital Inc.’s holdings, making the stock its 7th biggest holding. Cornerstone Capital Inc.’s holdings in Arthur J. Gallagher & Co. were worth $35,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AJG. Capital International Investors lifted its position in Arthur J. Gallagher & Co. by 7.0% in the first quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock valued at $2,763,177,000 after purchasing an additional 727,325 shares during the last quarter. Capital World Investors lifted its stake in Arthur J. Gallagher & Co. by 9.0% in the first quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after acquiring an additional 398,350 shares during the period. Legal & General Group Plc grew its stake in Arthur J. Gallagher & Co. by 2.7% in the second quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock worth $425,511,000 after purchasing an additional 42,841 shares during the period. Boston Partners boosted its stake in Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock valued at $402,206,000 after purchasing an additional 38,886 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Arthur J. Gallagher & Co. by 5.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,567,867 shares of the financial services provider’s stock worth $392,029,000 after purchasing an additional 79,271 shares during the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Bank Of America (Bofa) lifted their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. BMO Capital Markets boosted their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $287.00.

Insider Activity

In other news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now owns 329,099 shares in the company, valued at $93,121,853.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the sale, the president now owns 329,099 shares in the company, valued at $93,121,853.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the transaction, the president now directly owns 33,267 shares of the company’s stock, valued at $9,853,685.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,900 shares of company stock worth $11,136,680. 1.60% of the stock is owned by corporate insiders.

Arthur J. Gallagher & Co. Stock Up 0.1 %

NYSE:AJG traded up $0.23 during mid-day trading on Tuesday, reaching $281.88. The stock had a trading volume of 119,600 shares, compared to its average volume of 841,912. The stock’s 50 day simple moving average is $288.59 and its two-hundred day simple moving average is $271.64. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04. The company has a market capitalization of $61.84 billion, a price-to-earnings ratio of 53.62, a price-to-earnings-growth ratio of 2.39 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the business earned $2.00 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.