Arthur J. Gallagher & Co. $AJG Stock: TD Waterhouse Canada Inc. Grows Stake

Key Points

• Institutional ownership increased: TD Waterhouse Canada raised its Arthur J. Gallagher stake by 54.6% to 34,065 shares, while institutional investors collectively own 85.53% of the company.
• Insiders sold shares: Company executives sold a combined 28,500 shares worth approximately $7.56 million over the past 90 days, reducing their holdings.
• Analyst sentiment remains positive: AJG has a consensus “Moderate Buy” rating from 21 analysts, with an average price target of $280.74 versus its reported trading price of $254.55.

TD Waterhouse Canada Inc. grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 54.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,065 shares of the financial services provider's stock after purchasing an additional 12,030 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Arthur J. Gallagher & Co. were worth $7,932,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 14.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,242,088 shares of the financial services provider's stock valued at $702,182,000 after buying an additional 409,145 shares in the last quarter. Gtcr LLC purchased a new stake in Arthur J. Gallagher & Co. in the 1st quarter valued at about $514,112,000. Janus Henderson Group PLC grew its stake in Arthur J. Gallagher & Co. by 5.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,970,990 shares of the financial services provider's stock worth $426,887,000 after acquiring an additional 101,431 shares in the last quarter. Bank of America Corp DE increased its position in shares of Arthur J. Gallagher & Co. by 23.0% during the first quarter. Bank of America Corp DE now owns 1,854,488 shares of the financial services provider's stock worth $401,645,000 after acquiring an additional 346,409 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Arthur J. Gallagher & Co. by 0.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,453,774 shares of the financial services provider's stock worth $333,743,000 after acquiring an additional 3,905 shares during the period. 85.53% of the stock is currently owned by institutional investors.

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

In other Arthur J. Gallagher & Co. news, General Counsel Walter D. Bay sold 12,000 shares of the 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 owned 71,292 shares of the company's stock, valued at approximately $19,254,543.36. This trade represents a 14.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott R. Hudson sold 12,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $264.13, for a total value of $3,169,560.00. Following the completion of the transaction, the vice president owned 90,262 shares in the company, valued at $23,840,902.06. This represents a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 28,500 shares of company stock worth $7,562,950. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AJG has been the subject of a number of research reports. Morgan Stanley lowered their price target on Arthur J. Gallagher & Co. from $285.00 to $260.00 and set an "overweight" rating for the company in a report on Tuesday, October 6th. Barclays increased their price objective on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $250.00 price objective (down from $271.00) on shares of Arthur J. Gallagher & Co. in a report on Thursday, September 24th. Citigroup lifted their target price on Arthur J. Gallagher & Co. from $250.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group upped their target price on Arthur J. Gallagher & Co. from $272.00 to $277.00 and gave the stock a "buy" rating in a report on Thursday, October 1st. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $280.74.

Arthur J. Gallagher & Co. Trading Down 0.1%

NYSE AJG opened at $254.55 on Monday. 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 capitalization of $65.24 billion, a price-to-earnings ratio of 42.21, a price-to-earnings-growth ratio of 1.46 and a beta of 0.55. The company's 50-day simple moving average is $246.41 and its two-hundred day simple moving average is $232.29. Arthur J. Gallagher & Co. has a one year low of $190.75 and a one year high of $284.33.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business posted $2.33 EPS. The company's quarterly revenue was up 24.3% compared to the same quarter last year. Equities analysts forecast that Arthur J. Gallagher & Co. will post 13.17 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 8th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 8th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 46.43%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage, risk management and consulting company. The firm helps businesses, public entities and individuals identify, manage and transfer risk through insurance and related services.

Its operations include retail insurance brokerage, employee benefits consulting, wholesale brokerage, reinsurance brokerage, claims administration and risk management consulting. Gallagher places commercial and personal insurance coverage and provides services related to property and casualty risks, health care, benefits, and other specialized insurance needs.

Founded in 1927 by Arthur J.

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