TD Asset Management Inc Sells 3,529 Shares of Arthur J. Gallagher & Co. $AJG

TD Asset Management Inc reduced its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 384,529 shares of the financial services provider’s stock after selling 3,529 shares during the period. TD Asset Management Inc owned 0.15% of Arthur J. Gallagher & Co. worth $99,512,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter worth about $1,925,062,000. JPMorgan Chase & Co. increased its stake in shares of Arthur J. Gallagher & Co. by 19.6% in the third quarter. JPMorgan Chase & Co. now owns 20,338,533 shares of the financial services provider’s stock worth $6,299,674,000 after purchasing an additional 3,330,205 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Arthur J. Gallagher & Co. by 9,244.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,053,636 shares of the financial services provider’s stock worth $272,670,000 after purchasing an additional 1,042,361 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Arthur J. Gallagher & Co. by 30.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,107,390 shares of the financial services provider’s stock worth $962,483,000 after purchasing an additional 725,555 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Arthur J. Gallagher & Co. by 13.7% in the third quarter. Wellington Management Group LLP now owns 3,270,807 shares of the financial services provider’s stock worth $1,013,100,000 after purchasing an additional 395,304 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $210.77 on Friday. Arthur J. Gallagher & Co. has a 12 month low of $190.75 and a 12 month high of $337.33. The stock has a market cap of $54.15 billion, a P/E ratio of 34.10, a P/E/G ratio of 1.02 and a beta of 0.52. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $210.44 and a 200 day moving average of $229.38.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.73 billion. During the same quarter in the previous year, the company earned $3.67 EPS. The business’s quarterly revenue was up 29.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Arthur J. Gallagher & Co. will post 13.27 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, June 5th. Arthur J. Gallagher & Co.’s payout ratio is currently 45.31%.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the completion of the transaction, the chief accounting officer owned 47,819 shares of the company’s stock, valued at $9,850,714. The trade was a 5.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AJG has been the subject of several recent research reports. Wells Fargo & Company reduced their target price on shares of Arthur J. Gallagher & Co. from $273.00 to $266.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Barclays boosted their price objective on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. UBS Group set a $240.00 price objective on shares of Arthur J. Gallagher & Co. in a research note on Thursday, May 21st. Finally, Truist Financial reduced their price objective on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $264.00.

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.