TIAA Trust National Association Has $1.16 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

TIAA Trust National Association grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 5.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,082 shares of the financial services provider’s stock after buying an additional 203 shares during the period. TIAA Trust National Association’s holdings in Arthur J. Gallagher & Co. were worth $1,159,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. FineMark National Bank & Trust boosted its stake in Arthur J. Gallagher & Co. by 1.7% during the fourth quarter. FineMark National Bank & Trust now owns 46,869 shares of the financial services provider’s stock worth $13,304,000 after buying an additional 788 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 11.6% during the 4th quarter. TD Asset Management Inc. now owns 892,709 shares of the financial services provider’s stock valued at $253,395,000 after acquiring an additional 92,990 shares in the last quarter. Corebridge Financial Inc. increased its stake in Arthur J. Gallagher & Co. by 9.3% in the fourth quarter. Corebridge Financial Inc. now owns 69,567 shares of the financial services provider’s stock valued at $19,747,000 after acquiring an additional 5,911 shares during the period. Congress Wealth Management LLC DE raised its position in Arthur J. Gallagher & Co. by 2.8% in the fourth quarter. Congress Wealth Management LLC DE now owns 69,268 shares of the financial services provider’s stock worth $19,662,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. bought a new position in Arthur J. Gallagher & Co. during the fourth quarter worth about $206,000. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 1.5 %

NYSE AJG opened at $341.78 on Friday. The stock has a market capitalization of $87.40 billion, a P/E ratio of 52.42 and a beta of 0.75. Arthur J. Gallagher & Co. has a 52 week low of $230.08 and a 52 week high of $345.43. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a fifty day moving average of $320.82 and a 200-day moving average of $300.66.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, March 7th. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s payout ratio is currently 39.88%.

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

In related news, Director Sherry S. Barrat sold 2,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $304.33, for a total value of $760,825.00. Following the sale, the director now directly owns 16,533 shares in the company, valued at $5,031,487.89. This trade represents a 13.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher E. Mead sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $302.61, for a total transaction of $877,569.00. Following the completion of the sale, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,440,499.14. The trade was a 16.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,235 shares of company stock worth $7,478,224. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AJG shares. Truist Financial increased their target price on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Piper Sandler raised Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their target price for the stock from $295.00 to $377.00 in a research report on Friday, January 10th. Keefe, Bruyette & Woods boosted their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a research report on Friday, March 21st. Finally, Royal Bank of Canada raised their price objective on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus target price of $313.20.

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.