Arthur J. Gallagher & Co. $AJG Stock Sold by Tompkins Financial Corp

Key Points

• Tompkins Financial reduced its Arthur J. Gallagher stake by 17% in the third quarter, selling 8,055 shares and retaining 39,342 shares valued at approximately $8.97 million. Institutional investors collectively own 85.53% of AJG.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating from 19 analysts and an average price target of $288.17, despite several firms recently lowering their targets.
• AJG reported quarterly earnings of $2.84 per share, slightly beating estimates, while revenue rose 24.3% year over year to $3.95 billion. The company also maintains a quarterly dividend of $0.70 per share, equivalent to a 1.2% yield.

Tompkins Financial Corp trimmed its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 17.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,342 shares of the financial services provider's stock after selling 8,055 shares during the quarter. Tompkins Financial Corp's holdings in Arthur J. Gallagher & Co. were worth $8,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AJG. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Arthur J. Gallagher & Co. during the 2nd quarter valued at $3,587,000. Dearborn Partners LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 6.3% during the 4th quarter. Dearborn Partners LLC now owns 133,936 shares of the financial services provider's stock worth $34,661,000 after buying an additional 7,946 shares during the period. Sequoia Financial Advisors LLC lifted its position in Arthur J. Gallagher & Co. by 7.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 149,799 shares of the financial services provider's stock worth $34,389,000 after acquiring an additional 9,966 shares during the last quarter. Gtcr LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth about $514,112,000. Finally, Evelyn Partners Investment Management Services Ltd acquired a new stake in Arthur J. Gallagher & Co. in the 1st quarter valued at approximately $5,848,000. Institutional investors own 85.53% of the company's stock.

Wall Street Analysts Forecast Growth

AJG has been the topic of several research analyst reports. Wolfe Research downgraded shares of Arthur J. Gallagher & Co. from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. Wells Fargo & Company reduced their target price on shares of Arthur J. Gallagher & Co. from $296.00 to $291.00 and set an "overweight" rating for the company in a research note on Thursday, September 24th. Morgan Stanley lowered their price target on Arthur J. Gallagher & Co. from $290.00 to $285.00 and set an "overweight" rating on the stock in a research note on Friday, September 25th. Keefe, Bruyette & Woods reiterated a "market perform" rating on shares of Arthur J. Gallagher & Co. in a research report on Thursday, September 24th. Finally, Piper Sandler reissued an "overweight" rating on shares of Arthur J. Gallagher & Co. in a report on Thursday, September 24th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $288.17.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG traded down $0.26 during mid-day trading on Monday, hitting $225.85. 394,191 shares of the stock were exchanged, compared to its average volume of 1,911,066. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $313.09. The stock's fifty day simple moving average is $250.01 and its two-hundred day simple moving average is $230.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $57.89 billion, a P/E ratio of 37.50, a PEG ratio of 1.37 and a beta of 0.55.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 13.28% and a net margin of 9.96%.The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company earned $2.33 EPS. Arthur J. Gallagher & Co.'s revenue for the quarter was up 24.3% on a year-over-year basis. As a group, analysts forecast that Arthur J. Gallagher & Co. will post 13.27 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 8th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 46.43%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $264.13, for a total transaction of $3,169,560.00. Following the completion of the sale, the vice president directly owned 90,262 shares of the company's stock, valued at $23,840,902.06. The trade was a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Walter D. Bay sold 12,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, August 24th. The stock was sold at an average price of $270.08, for a total transaction of $3,240,960.00. Following the sale, the general counsel directly owned 71,292 shares of the company's stock, valued at $19,254,543.36. This represents a 14.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,500 shares of company stock valued at $7,562,950 in the last three months. Company insiders own 1.40% of the company's stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company headquartered in Rolling Meadows, Illinois. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance brokerage, employee benefits consulting, risk management and related advisory services.

Gallagher operates through several businesses, including retail insurance brokerage, wholesale brokerage and reinsurance brokerage. Its Gallagher Re business provides reinsurance broking and advisory services, while Gallagher Bassett provides third-party claims administration and related risk management services.

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