The Westpac Banking Corp Purchases 1,832 Shares of Arthur J. Gallagher & Co. (AJG)

The Westpac Banking Corp Purchases 1,832 Shares of Arthur J. Gallagher & Co. (AJG)

Westpac Banking Corp boosted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 19.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,444 shares of the company’s stock after buying an additional 1,832 shares during the period. Westpac Banking Corp’s holdings in Arthur J. Gallagher & Co. were worth $582,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AJG. GW Henssler & Associates Ltd. increased its position in shares of Arthur J. Gallagher & Co. by 7.3% in the second quarter. GW Henssler & Associates Ltd. now owns 103,423 shares of the company’s stock worth $4,923,000 after buying an additional 7,024 shares in the last quarter. Quantitative Systematic Strategies LLC increased its position in shares of Arthur J. Gallagher & Co. by 111.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 22,420 shares of the company’s stock worth $1,039,000 after buying an additional 11,823 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Arthur J. Gallagher & Co. by 13.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,849 shares of the company’s stock worth $373,000 after buying an additional 907 shares in the last quarter. ING Groep NV purchased a new position in shares of Arthur J. Gallagher & Co. during the second quarter worth approximately $297,000. Finally, American Century Companies Inc. increased its position in shares of Arthur J. Gallagher & Co. by 21.9% in the second quarter. American Century Companies Inc. now owns 355,789 shares of the company’s stock worth $16,936,000 after buying an additional 63,977 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Shares of Arthur J. Gallagher & Co. (NYSE:AJG) traded up 0.68% on Wednesday, reaching $52.93. The company’s stock had a trading volume of 510,535 shares. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 24.66 and a beta of 1.11. Arthur J. Gallagher & Co. has a 1-year low of $36.22 and a 1-year high of $53.36. The stock has a 50-day moving average price of $51.48 and a 200-day moving average price of $50.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 27th. The company reported $0.77 earnings per share for the quarter, topping the 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 business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $388.20 million. During the same quarter last year, the company earned $0.77 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post $2.74 EPS for the current year.

A number of brokerages have commented on AJG. Goldman Sachs Group, Inc. (The) downgraded shares of Arthur J. Gallagher & Co. from a “neutral” rating to a “sell” rating in a report on Tuesday, November 15th. 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 note on Sunday, October 2nd. 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 note on Tuesday, October 11th. Zacks Investment Research lowered Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, September 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $51.36.

In related news, insider Susan E. Pietrucha sold 2,780 shares of the firm’s stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $50.11, for a total transaction of $139,305.80. Following the transaction, the insider now owns 1,280 shares in the company, valued at approximately $64,140.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Richard C. Cary sold 8,230 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $48.29, for a total value of $397,426.70. Following the transaction, the chief accounting officer now owns 32,330 shares in the company, valued at approximately $1,561,215.70. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

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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