Arthur J. Gallagher & Co. $AJG Shares Sold by TD Asset Management Inc

TD Asset Management Inc trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 50.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,058 shares of the financial services provider’s stock after selling 394,856 shares during the period. TD Asset Management Inc’s holdings in Arthur J. Gallagher & Co. were worth $120,197,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Physician Wealth Advisors Inc. grew its holdings in Arthur J. Gallagher & Co. by 870.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider’s stock valued at $30,000 after buying an additional 87 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of 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 in the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of Arthur J. Gallagher & Co. by 40.6% during the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 39 shares during the last quarter. Westside Investment Management Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 100.0% during the third quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 68 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in Arthur J. Gallagher & Co. during the 3rd quarter worth about $62,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Activity

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 5,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $258.05, for a total transaction of $1,290,250.00. Following the transaction, the chief financial officer directly owned 95,777 shares of the company’s stock, valued at $24,715,254.85. The trade was a 4.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Walter D. Bay sold 15,850 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $255.00, for a total transaction of $4,041,750.00. Following the completion of the sale, the general counsel directly owned 79,549 shares of the company’s stock, valued at $20,284,995. The trade was a 16.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,850 shares of company stock valued at $6,364,440 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

AJG has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Piper Sandler reduced their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $226.00 and set a “neutral” rating on the stock in a research note on Monday. Morgan Stanley set a $300.00 target price on shares of Arthur J. Gallagher & Co. in a research report on Friday, December 19th. Keefe, Bruyette & Woods cut their price target on Arthur J. Gallagher & Co. from $279.00 to $249.00 and set a “market perform” rating for the company in a report on Friday, January 30th. Finally, Truist Financial set a $271.00 price target on Arthur J. Gallagher & Co. in a research note on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $282.76.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock opened at $218.03 on Thursday. Arthur J. Gallagher & Co. has a 1 year low of $195.00 and a 1 year high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a 50 day moving average price of $244.18 and a 200 day moving average price of $266.68. The company has a market cap of $56.06 billion, a price-to-earnings ratio of 35.45, a PEG ratio of 1.17 and a beta of 0.66.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.03. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.61 billion. Arthur J. Gallagher & Co. had a net margin of 11.84% and a return on equity of 12.13%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a $0.70 dividend. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, March 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.3%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 42.28%.

Arthur J. Gallagher & Co. Company 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.