M&T Bank Corp Decreases Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

M&T Bank Corp reduced its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,008 shares of the financial services provider's stock after selling 12,405 shares during the period. M&T Bank Corp's holdings in Arthur J. Gallagher & Co. were worth $18,217,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Beaird Harris Wealth Management LLC increased its holdings in Arthur J. Gallagher & Co. by 175.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider's stock worth $26,000 after purchasing an additional 72 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the third quarter worth approximately $28,000. SJS Investment Consulting Inc. raised its holdings in Arthur J. Gallagher & Co. by 460.9% in the fourth quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 106 shares in the last quarter. Ruedi Wealth Management Inc. bought a new position in Arthur J. Gallagher & Co. during the 4th quarter valued at $33,000. Finally, Milestone Investment Advisors LLC acquired a new position in Arthur J. Gallagher & Co. during the 3rd quarter worth $45,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AJG shares. Royal Bank of Canada increased their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an "outperform" rating in a research report on Friday, March 22nd. Keefe, Bruyette & Woods reduced their target price on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an "underperform" rating on the stock in a report on Wednesday, April 10th. Piper Sandler lowered their price target on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a "neutral" rating for the company in a report on Monday, April 29th. Jefferies Financial Group cut Arthur J. Gallagher & Co. from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $279.00 to $233.00 in a research note on Tuesday, January 9th. Finally, TD Cowen boosted their target price on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the company a "hold" rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $255.31.

Arthur J. Gallagher & Co. Stock Performance

AJG stock traded up $0.18 during trading on Friday, reaching $238.72. 545,286 shares of the company's stock were exchanged, compared to its average volume of 839,971. The firm has a market cap of $52.16 billion, a PE ratio of 48.32, a P/E/G ratio of 2.23 and a beta of 0.69. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. Arthur J. Gallagher & Co. has a 1-year low of $198.52 and a 1-year high of $256.10. The company's fifty day moving average price is $243.70 and its 200-day moving average price is $239.06.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.18 billion. During the same period last year, the firm posted $3.03 earnings per share. The business's revenue was up 20.4% on a year-over-year basis. On average, research analysts expect that Arthur J. Gallagher & Co. will post 10.08 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 1.01%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 48.58%.

Insider Activity at Arthur J. Gallagher & Co.

In other news, Director David S. Johnson sold 500 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the transaction, the director now owns 45,038 shares of the company's stock, valued at approximately $10,540,693.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director David S. Johnson sold 500 shares of the firm's stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total transaction of $117,020.00. Following the completion of the sale, the director now directly owns 45,038 shares of the company's stock, valued at approximately $10,540,693.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Scott R. Hudson sold 15,000 shares of the business's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $255.06, for a total value of $3,825,900.00. Following the sale, the vice president now directly owns 96,709 shares in the company, valued at $24,666,597.54. The disclosure for this sale can be found here. Insiders sold 29,016 shares of company stock valued at $7,176,180 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.