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

TD Asset Management Inc decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 14.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 782,914 shares of the financial services provider’s stock after selling 135,095 shares during the period. TD Asset Management Inc’s holdings in Arthur J. Gallagher & Co. were worth $250,626,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AJG. Elevation Point Wealth Partners LLC grew its stake in shares of Arthur J. Gallagher & Co. by 5.3% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,527 shares of the financial services provider’s stock valued at $527,000 after buying an additional 77 shares during the period. CVA Family Office LLC boosted its position in shares of Arthur J. Gallagher & Co. by 34.3% during the 1st quarter. CVA Family Office LLC now owns 133 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 34 shares during the period. Dynamic Advisor Solutions LLC boosted its position in shares of Arthur J. Gallagher & Co. by 3.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,614 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 47 shares during the period. Ritholtz Wealth Management boosted its position in shares of Arthur J. Gallagher & Co. by 6.0% during the 1st quarter. Ritholtz Wealth Management now owns 9,088 shares of the financial services provider’s stock worth $3,137,000 after purchasing an additional 514 shares during the period. Finally, D Orazio & Associates Inc. purchased a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth approximately $246,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In other news, VP Scott R. Hudson sold 12,855 shares of the firm’s stock in a transaction on 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 sale, the vice president directly owned 85,920 shares in the company, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Douglas K. Howell sold 8,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the completion of the sale, the chief financial officer owned 100,777 shares in the company, valued at $30,186,742.58. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,855 shares of company stock worth $8,916,928 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

AJG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the stock a “market perform” rating in a research report on Friday, September 19th. Wells Fargo & Company increased their price objective on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. 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. Barclays lowered their price objective 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 report on Monday, July 7th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $331.43.

Arthur J. Gallagher & Co. Price Performance

Arthur J. Gallagher & Co. stock opened at $298.06 on Tuesday. The firm has a market cap of $76.42 billion, a PE ratio of 42.34 and a beta of 0.73. Arthur J. Gallagher & Co. has a 52-week low of $275.56 and a 52-week high of $351.23. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $299.38 and its two-hundred day moving average is $315.16.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the business posted $2.29 earnings per share. Arthur J. Gallagher & Co.’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, research analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a $0.65 dividend. 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 dividend payout ratio (DPR) is presently 36.93%.

About Arthur J. Gallagher & Co.

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.