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

Key Points

• TD Asset Management Inc has reduced its stake in Arthur J. Gallagher & Co. by 14.7% during Q2, owning approximately 0.31% of the company valued at $250.6 million.
• Insider selling has occurred, with VP Scott R. Hudson and CFO Douglas K. Howell selling 12,855 and 8,000 shares respectively, leading to a decrease in their holdings by 13.01% and 7.35%.
• Arthur J. Gallagher & Co. reported a net margin of 14.54% and announced a quarterly dividend of $0.65, representing an annualized yield of 0.9%.

TD Asset Management Inc cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 14.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 782,914 shares of the financial services provider's stock after selling 135,095 shares during the period. TD Asset Management Inc owned about 0.31% of Arthur J. Gallagher & Co. worth $250,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new position in Arthur J. Gallagher & Co. during the first quarter valued at $25,000. AlphaQuest LLC acquired a new position in Arthur J. Gallagher & Co. during the first quarter valued at $33,000. Saudi Central Bank acquired a new position in Arthur J. Gallagher & Co. during the first quarter valued at $34,000. Centennial Bank AR acquired a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth about $38,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after acquiring an additional 110 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 12,855 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the transaction, the vice president owned 85,920 shares of the company's stock, valued at approximately $25,569,792. The trade was a 13.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Douglas K. Howell sold 8,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the sale, the chief financial officer owned 100,777 shares of the company's stock, valued at approximately $30,186,742.58. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,855 shares of company stock worth $8,916,928. Insiders own 1.30% of the company's stock.

Arthur J. Gallagher & Co. Stock Down 1.2%

Shares of NYSE AJG opened at $298.06 on Tuesday. Arthur J. Gallagher & Co. has a 12-month low of $275.56 and a 12-month high of $351.23. The stock has a market cap of $76.42 billion, a PE ratio of 42.34 and a beta of 0.73. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $299.38 and a 200 day moving average of $315.16.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.20 billion. During the same period in the prior year, the company posted $2.29 EPS. The firm's revenue was up 16.0% on a year-over-year basis. As a group, sell-side analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 36.93%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AJG. Piper Sandler lowered their price target on Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an "overweight" rating on the stock in a research report on Thursday, October 2nd. Erste Group Bank reiterated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. UBS Group lifted their price target on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. Wells Fargo & Company lifted their price target on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $331.43.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.

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