TCTC Holdings LLC Sells 973 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

TCTC Holdings LLC decreased its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 77.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

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

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the transaction, the president now owns 33,267 shares in the company, valued at $9,853,685.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is currently owned by corporate insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $294.77 on Friday. The stock’s 50-day simple moving average is $288.47 and its two-hundred day simple moving average is $272.62. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $301.04. The firm has a market capitalization of $64.67 billion, a P/E ratio of 56.15, a P/E/G ratio of 2.48 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm posted $2.00 earnings per share. As a group, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

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

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of research analyst reports. Piper Sandler raised their price objective on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. TD Cowen raised their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. 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 research report on Friday, September 20th. Bank of America boosted their price objective on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group boosted their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $287.00.

About Arthur J. Gallagher & Co.

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.