TD Asset Management Inc Cuts Holdings in Arthur J. Gallagher & Co. $AJG

TD Asset Management Inc trimmed its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.9% in the fourth quarter, HoldingsChannel reports. The fund owned 384,529 shares of the financial services provider’s stock after selling 3,529 shares during the period. TD Asset Management Inc’s holdings in Arthur J. Gallagher & Co. were worth $99,512,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AJG. Jump Financial LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $2,825,000. Qube Research & Technologies Ltd bought a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $3,429,000. Treasurer of the State of North Carolina lifted its holdings in shares of Arthur J. Gallagher & Co. by 5.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider’s stock worth $37,924,000 after acquiring an additional 5,947 shares during the last quarter. Peapack Gladstone Financial Corp lifted its holdings in shares of Arthur J. Gallagher & Co. by 2,919.2% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider’s stock worth $6,398,000 after acquiring an additional 19,325 shares during the last quarter. Finally, Armistice Capital LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $412,000. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AJG shares. UBS Group set a $240.00 price objective on shares of Arthur J. Gallagher & Co. in a report on Thursday, May 21st. Mizuho lowered their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Wall Street Zen upgraded shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Royal Bank Of Canada initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, March 17th. They issued an “outperform” rating and a $260.00 price objective for the company. Finally, BMO Capital Markets upgraded shares of Arthur J. Gallagher & Co. from a “market perform” rating to an “outperform” rating and upped their price target for the company from $275.00 to $278.00 in a report on Tuesday, March 24th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of “Moderate Buy” and an average price target of $264.00.

Arthur J. Gallagher & Co. Trading Up 4.1%

NYSE:AJG opened at $210.77 on Friday. The company has a fifty day moving average of $210.44 and a 200 day moving average of $229.38. Arthur J. Gallagher & Co. has a 52 week low of $190.75 and a 52 week high of $337.33. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $54.15 billion, a P/E ratio of 34.10, a P/E/G ratio of 1.02 and a beta of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, topping the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same period in the prior year, the business earned $3.67 EPS. The company’s revenue for the quarter was up 29.0% on a year-over-year basis. On average, research analysts predict that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.3%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.31%.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the sale, the chief accounting officer directly owned 47,819 shares of the company’s stock, valued at $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.