Tiaa Fsb Decreases Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Posted by Defense World Staff on Jul 3rd, 2023

Tiaa Fsb reduced its stake in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 7.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,219 shares of the financial services provider’s stock after selling 242 shares during the quarter. Tiaa Fsb’s holdings in Arthur J. Gallagher & Co. were worth $616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Texas Permanent School Fund increased its holdings in Arthur J. Gallagher & Co. by 0.7% in the 4th quarter. Texas Permanent School Fund now owns 29,956 shares of the financial services provider’s stock worth $5,648,000 after buying an additional 195 shares during the period. Trust Co. of Vermont increased its holdings in Arthur J. Gallagher & Co. by 52.4% in the 1st quarter. Trust Co. of Vermont now owns 1,448 shares of the financial services provider’s stock worth $277,000 after buying an additional 498 shares during the period. Toronto Dominion Bank increased its holdings in Arthur J. Gallagher & Co. by 18.3% in the 4th quarter. Toronto Dominion Bank now owns 113,992 shares of the financial services provider’s stock worth $21,482,000 after buying an additional 17,651 shares during the period. Townsquare Capital LLC grew its stake in shares of Arthur J. Gallagher & Co. by 17.8% during the 4th quarter. Townsquare Capital LLC now owns 6,702 shares of the financial services provider’s stock worth $1,263,000 after purchasing an additional 1,012 shares during the period. Finally, Stratos Wealth Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 1.9% during the 4th quarter. Stratos Wealth Advisors LLC now owns 3,061 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 58 shares during the period. 85.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AJG has been the topic of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Arthur J. Gallagher & Co. from $238.00 to $245.00 in a research note on Friday, June 16th. Piper Sandler raised their price objective on shares of Arthur J. Gallagher & Co. from $215.00 to $220.00 in a research note on Friday, April 28th. Evercore ISI raised their price objective on shares of Arthur J. Gallagher & Co. from $231.00 to $233.00 in a research note on Friday, June 16th. Royal Bank of Canada raised their price objective on shares of Arthur J. Gallagher & Co. from $225.00 to $230.00 in a research note on Friday, April 28th. Finally, Argus increased their target price on Arthur J. Gallagher & Co. from $228.00 to $232.00 in a research report on Monday, May 1st. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.57.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, Director David S. Johnson sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, June 16th. The stock was sold at an average price of $216.40, for a total transaction of $216,400.00. Following the transaction, the director now owns 46,538 shares in the company, valued at approximately $10,070,823.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director David S. Johnson sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, June 16th. The stock was sold at an average price of $216.40, for a total transaction of $216,400.00. Following the transaction, the director now owns 46,538 shares in the company, valued at approximately $10,070,823.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kay W. Mccurdy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $211.78, for a total value of $317,670.00. Following the sale, the director now directly owns 29,591 shares of the company’s stock, valued at $6,266,781.98. The disclosure for this sale can be found here. Insiders have sold a total of 101,503 shares of company stock worth $21,433,355 in the last quarter. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 2.3 %

Shares of AJG stock opened at $219.57 on Monday. The stock’s fifty day moving average is $210.39 and its two-hundred day moving average is $197.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $47.04 billion, a P/E ratio of 40.74, a PEG ratio of 2.26 and a beta of 0.70. Arthur J. Gallagher & Co. has a fifty-two week low of $160.60 and a fifty-two week high of $220.63.

Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) last posted its quarterly earnings results on Thursday, April 27th. The financial services provider reported $3.03 EPS for the quarter, topping the consensus estimate of $3.00 by $0.03. Arthur J. Gallagher & Co. had a return on equity of 18.86% and a net margin of 13.22%. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.67 billion. Research analysts expect that Arthur J. Gallagher & Co. will post 8.71 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $2.20 annualized dividend and a dividend yield of 1.00%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 40.82%.

About Arthur J. Gallagher & Co.

(Free Report)

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 businesses and organizations 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.