Mechanics Bank Trust Department Has $211,000 Stock Position in Arthur J. Gallagher & Co. $AJG

Mechanics Bank Trust Department lessened its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 36.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 660 shares of the financial services provider’s stock after selling 378 shares during the period. Mechanics Bank Trust Department’s holdings in Arthur J. Gallagher & Co. were worth $211,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Two Sigma Investments LP acquired a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at about $382,000. Focus Partners Advisor Solutions LLC bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $203,000. Vise Technologies Inc. increased its position in Arthur J. Gallagher & Co. by 69.9% during the 4th quarter. Vise Technologies Inc. now owns 1,286 shares of the financial services provider’s stock valued at $365,000 after purchasing an additional 529 shares during the period. GTS Securities LLC raised its holdings in Arthur J. Gallagher & Co. by 74.2% during the 4th quarter. GTS Securities LLC now owns 2,998 shares of the financial services provider’s stock worth $851,000 after purchasing an additional 1,277 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of Arthur J. Gallagher & Co. by 13.4% in the 4th quarter. Toronto Dominion Bank now owns 89,808 shares of the financial services provider’s stock valued at $25,491,000 after purchasing an additional 10,616 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 12,855 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $297.60, for a total value of $3,825,648.00. Following the transaction, the vice president directly owned 85,920 shares in the company, valued at $25,569,792. The trade was a 13.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas K. Howell sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $299.78, for a total transaction of $899,340.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays lowered their target price on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating for the company in a research note on Monday, July 7th. Piper Sandler boosted their price objective on 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. Keefe, Bruyette & Woods raised their target price on Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the stock a “market perform” rating in a research note on Friday. Citigroup started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $317.00 price target on the stock. Finally, Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $330.93.

Arthur J. Gallagher & Co. Trading Up 0.1%

NYSE:AJG opened at $300.07 on Tuesday. Arthur J. Gallagher & Co. has a 52 week low of $275.56 and a 52 week high of $351.23. The firm has a 50-day moving average price of $298.50 and a two-hundred day moving average price of $317.85. 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 firm has a market cap of $76.94 billion, a price-to-earnings ratio of 42.62 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.29 earnings per share. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, September 5th. Arthur J. Gallagher & Co.’s payout ratio is presently 36.93%.

Arthur J. Gallagher & Co. Company 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.