Thomasville National Bank Sells 4,709 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Thomasville National Bank has reduced its stake in Arthur J. Gallagher & Co. by 4.2%, owning 107,222 shares now valued at approximately $34.3 million.
• A quarterly dividend of $0.65 was recently paid, yielding 0.9% annually with a payout ratio of 36.93%.
• Insider transactions saw CFO Douglas K. Howell and VP Scott R. Hudson sell 3,000 and 12,855 shares, respectively, indicating a decrease in their holdings.

Thomasville National Bank cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,222 shares of the financial services provider's stock after selling 4,709 shares during the period. Arthur J. Gallagher & Co. comprises approximately 2.3% of Thomasville National Bank's portfolio, making the stock its 11th largest position. Thomasville National Bank's holdings in Arthur J. Gallagher & Co. were worth $34,324,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Checchi Capital Advisers LLC grew its position in Arthur J. Gallagher & Co. by 1.1% during the first quarter. Checchi Capital Advisers LLC now owns 2,899 shares of the financial services provider's stock valued at $1,001,000 after buying an additional 31 shares during the period. Menard Financial Group LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 0.8% during the first quarter. Menard Financial Group LLC now owns 3,812 shares of the financial services provider's stock worth $1,289,000 after buying an additional 32 shares during the last quarter. Allen Capital Group LLC boosted its position in shares of Arthur J. Gallagher & Co. by 2.1% in the 1st quarter. Allen Capital Group LLC now owns 1,603 shares of the financial services provider's stock worth $553,000 after buying an additional 33 shares in the last quarter. City Holding Co. raised its holdings in Arthur J. Gallagher & Co. by 3.1% in the first quarter. City Holding Co. now owns 1,140 shares of the financial services provider's stock valued at $394,000 after buying an additional 34 shares during the period. Finally, CVA Family Office LLC increased its stake in Arthur J. Gallagher & Co. by 34.3% during the first quarter. CVA Family Office LLC now owns 133 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Analyst Upgrades and Downgrades

AJG has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the stock a "market perform" rating in a research report on Friday. Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Citigroup initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $317.00 price target for the company. Erste Group Bank restated a "hold" rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Finally, UBS Group raised their price objective on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a "neutral" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $330.93.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG traded up $1.45 during trading on Tuesday, hitting $301.51. 321,308 shares of the company were exchanged, compared to its average volume of 1,524,480. The company has a market capitalization of $77.31 billion, a P/E ratio of 42.81 and a beta of 0.72. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 1-year low of $275.56 and a 1-year high of $351.23. The business's 50 day moving average is $298.50 and its 200-day moving average is $317.85.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.Arthur J. Gallagher & Co.'s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 EPS. Equities analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders 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 annualized dividend and a dividend yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 36.93%.

Insider Activity

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,855 shares of the business's stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas K. Howell sold 3,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $299.78, for a total transaction of $899,340.00. Following the transaction, the chief financial officer directly owned 114,777 shares of the company's stock, valued at approximately $34,407,849.06. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

Arthur J. Gallagher & Co. Company Profile

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.