Tompkins Financial Corp Sells 2,042 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Tompkins Financial Corp sold 2,042 shares of Arthur J. Gallagher & Co., reducing its holdings by 4.0% and indicating the stock is now 1.4% of its total portfolio.
• Corporate insiders, including VP Scott R. Hudson and CFO Douglas K. Howell, sold significant shares recently, reflecting decreased positions of 13.01% and 2.55%, respectively.
• Arthur J. Gallagher & Co. declared a quarterly dividend of $0.65, translating to an annualized payout of $2.60 and a dividend yield of 0.9%.

Tompkins Financial Corp decreased its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 4.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 48,701 shares of the financial services provider's stock after selling 2,042 shares during the period. Arthur J. Gallagher & Co. comprises about 1.4% of Tompkins Financial Corp's holdings, making the stock its 17th largest holding. Tompkins Financial Corp's holdings in Arthur J. Gallagher & Co. were worth $15,590,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, VP Scott R. Hudson sold 12,855 shares of the firm's stock in a transaction 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 directly owned 85,920 shares in the company, valued at $25,569,792. This trade represents a 13.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas K. Howell sold 3,000 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $299.78, for a total transaction of $899,340.00. Following the completion of the transaction, the chief financial officer directly owned 114,777 shares of the company's stock, valued at $34,407,849.06. This represents a 2.55% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $292.52 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a 50-day simple moving average of $299.37 and a two-hundred day simple moving average of $318.89. The firm has a market capitalization of $75.00 billion, a PE ratio of 41.55 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52-week low of $274.25 and a 52-week high of $351.23.

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

Arthur J. Gallagher & Co. Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AJG. Piper Sandler raised their target price on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Erste Group Bank reaffirmed a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Barclays dropped their target price on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Citigroup initiated coverage on Arthur J. Gallagher & Co. in a report on Wednesday, August 13th. They set a "neutral" rating and a $317.00 price target for the company. Finally, Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $333.13.

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.

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