TIAA Trust National Association Sells 2,020 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• TIAA Trust National Association reduced its holdings in Arthur J. Gallagher & Co. by 49.5%, selling 2,020 shares and now holds a total of 2,062 shares valued at $712,000.
• The company's stock recently traded at $286.08 with a market capitalization of $73.35 billion, despite reporting quarterly earnings that fell short of analysts' expectations.
• Arthur J. Gallagher & Co. declared a quarterly dividend of $0.65 per share to be paid on September 19, representing a 0.9% dividend yield.

TIAA Trust National Association trimmed its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 49.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,062 shares of the financial services provider's stock after selling 2,020 shares during the quarter. TIAA Trust National Association's holdings in Arthur J. Gallagher & Co. were worth $712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AJG. HWG Holdings LP bought a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $25,000. Centennial Bank AR bought a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $38,000. Motco raised its holdings in Arthur J. Gallagher & Co. by 700.0% in the first quarter. Motco now owns 112 shares of the financial services provider's stock worth $39,000 after purchasing an additional 98 shares during the period. Johnson Financial Group Inc. raised its holdings in Arthur J. Gallagher & Co. by 205.4% in the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after purchasing an additional 76 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings in Arthur J. Gallagher & Co. by 2,750.0% in the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after purchasing an additional 110 shares during the period. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG traded up $0.91 during midday trading on Friday, hitting $290.90. The company had a trading volume of 669,947 shares, compared to its average volume of 1,550,548. The company has a market capitalization of $74.59 billion, a PE ratio of 41.32 and a beta of 0.68. The company has a current ratio of 1.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $314.73 and a 200-day moving average price of $322.47. Arthur J. Gallagher & Co. has a twelve month low of $274.25 and a twelve month high of $351.23.

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 for the quarter, missing the consensus estimate of $2.36 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. Arthur J. Gallagher & Co.'s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 earnings per share. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.60 annualized dividend and a yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 36.93%.

Insider Activity at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 1,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $342.04, for a total value of $342,040.00. Following the completion of the transaction, the director directly owned 45,323 shares in the company, valued at approximately $15,502,278.92. This represents a 2.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Scott R. Hudson sold 10,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $337.17, for a total transaction of $3,540,285.00. Following the completion of the transaction, the vice president owned 91,175 shares of the company's stock, valued at approximately $30,741,474.75. This trade represents a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $8,528,080 in the last quarter. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AJG shares. Piper Sandler raised their price objective on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. UBS Group decreased their target price on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a research report on Monday. Barclays decreased their target price on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Wells Fargo & Company raised their target price on shares of Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Erste Group Bank reaffirmed a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $329.15.

Arthur J. Gallagher & Co. 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.