TCTC Holdings LLC Trims Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

TCTC Holdings LLC lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 77.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 281 shares of the financial services provider’s stock after selling 973 shares during the quarter. TCTC Holdings LLC’s holdings in Arthur J. Gallagher & Co. were worth $79,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth about $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth approximately $26,000. Creekmur Asset Management LLC purchased a new position in Arthur J. Gallagher & Co. during the first quarter valued at $27,000. DiNuzzo Private Wealth Inc. boosted its holdings in Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Arthur J. Gallagher & Co. in the second quarter worth $29,000. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on AJG. UBS Group increased their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Piper Sandler lifted their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Royal Bank of Canada upped their price target on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Jefferies Financial Group boosted their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their price target on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average target price of $287.00.

Insider Activity

In related news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the sale, the chief financial officer now owns 75,963 shares in the company, valued at $21,625,146.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $6,892,280 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG opened at $294.77 on Friday. Arthur J. Gallagher & Co. has a 52 week low of $218.63 and a 52 week high of $301.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The stock has a market cap of $64.67 billion, a price-to-earnings ratio of 56.15, a PEG ratio of 2.48 and a beta of 0.72. The business has a 50-day simple moving average of $288.47 and a two-hundred day simple moving average of $272.62.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting analysts’ consensus estimates of $2.26. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.00 EPS. On average, analysts expect that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 45.71%.

Arthur J. Gallagher & Co. Profile

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.