Arthur J. Gallagher & Co. (NYSE:AJG) Shares Acquired by TD Asset Management Inc

TD Asset Management Inc increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 743,669 shares of the financial services provider’s stock after buying an additional 6,334 shares during the quarter. TD Asset Management Inc owned about 0.34% of Arthur J. Gallagher & Co. worth $192,841,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital International Investors grew its stake in Arthur J. Gallagher & Co. by 7.0% during the 1st quarter. Capital International Investors now owns 11,050,941 shares of the financial services provider’s stock worth $2,763,177,000 after buying an additional 727,325 shares during the last quarter. Norges Bank bought a new position in Arthur J. Gallagher & Co. during the 4th quarter worth $1,308,316,000. Capital World Investors grew its stake in Arthur J. Gallagher & Co. by 9.0% during the 1st quarter. Capital World Investors now owns 4,832,060 shares of the financial services provider’s stock worth $1,208,208,000 after buying an additional 398,350 shares during the last quarter. WCM Investment Management LLC grew its stake in Arthur J. Gallagher & Co. by 0.6% during the 1st quarter. WCM Investment Management LLC now owns 2,624,447 shares of the financial services provider’s stock worth $656,217,000 after buying an additional 14,366 shares during the last quarter. Finally, Boston Partners grew its stake in Arthur J. Gallagher & Co. by 2.5% during the 1st quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock worth $402,206,000 after buying an additional 38,886 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on AJG. Wells Fargo & Company upped their price objective on Arthur J. Gallagher & Co. from $282.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods increased their price target on Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Bank Of America (Bofa) increased their price target on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $252.00 to $254.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Bank of America increased their price target on Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 22nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $276.82.

Arthur J. Gallagher & Co. Trading Down 0.8 %

Shares of NYSE AJG opened at $295.51 on Friday. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $298.24. The company has a market cap of $64.57 billion, a price-to-earnings ratio of 59.82, a P/E/G ratio of 2.46 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $279.14 and a 200-day simple moving average of $258.89.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating the consensus estimate of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the business posted $1.90 earnings per share. Arthur J. Gallagher & Co.’s revenue was up 14.3% compared to the same quarter last year. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 10.16 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is 48.58%.

Insider Activity

In other news, VP Scott R. Hudson sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total transaction of $2,634,500.00. Following the completion of the sale, the vice president now directly owns 93,730 shares of the company’s stock, valued at $24,693,168.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Scott R. Hudson sold 10,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $263.45, for a total value of $2,634,500.00. Following the completion of the sale, the vice president now directly owns 93,730 shares of the company’s stock, valued at approximately $24,693,168.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Walter D. Bay sold 8,303 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $262.74, for a total value of $2,181,530.22. Following the completion of the sale, the general counsel now directly owns 36,388 shares of the company’s stock, valued at $9,560,583.12. The disclosure for this sale can be found here. Insiders sold a total of 48,348 shares of company stock valued at $13,342,910 over the last three months. Insiders own 1.60% of the company’s stock.

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.