Arthur J. Gallagher & Co. (NYSE:AJG) Stock Holdings Cut by Toronto Dominion Bank

Toronto Dominion Bank reduced its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 16.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,362 shares of the financial services provider's stock after selling 21,849 shares during the quarter. Toronto Dominion Bank owned 0.05% of Arthur J. Gallagher & Co. worth $29,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Signaturefd LLC grew its stake in Arthur J. Gallagher & Co. by 1.0% in the 2nd quarter. Signaturefd LLC now owns 3,825 shares of the financial services provider's stock valued at $992,000 after acquiring an additional 39 shares during the last quarter. Trueblood Wealth Management LLC grew its position in shares of Arthur J. Gallagher & Co. by 0.4% in the second quarter. Trueblood Wealth Management LLC now owns 9,290 shares of the financial services provider's stock valued at $2,409,000 after purchasing an additional 40 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 4.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 983 shares of the financial services provider's stock worth $246,000 after purchasing an additional 44 shares in the last quarter. ERn Financial LLC raised its position in shares of Arthur J. Gallagher & Co. by 1.9% during the 1st quarter. ERn Financial LLC now owns 2,542 shares of the financial services provider's stock worth $636,000 after purchasing an additional 47 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC lifted its position in shares of Arthur J. Gallagher & Co. by 0.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 6,331 shares of the financial services provider's stock valued at $1,642,000 after acquiring an additional 48 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Walter D. Bay sold 6,335 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the sale, the general counsel now directly owns 30,053 shares in the company, valued at approximately $8,536,855.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Douglas K. Howell sold 8,710 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $285.07, for a total value of $2,482,959.70. Following the completion of the transaction, the chief financial officer now owns 75,963 shares of the company's stock, valued at $21,654,772.41. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Walter D. Bay sold 6,335 shares of Arthur J. Gallagher & Co. stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the sale, the general counsel now owns 30,053 shares in the company, valued at $8,536,855.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,145 shares of company stock valued at $12,622,660. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AJG. Jefferies Financial Group boosted their price target on Arthur J. Gallagher & Co. from $264.00 to $267.00 in a research report on Friday, July 26th. UBS Group increased their target price on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the company an "underperform" rating in a research report on Friday, July 26th. The Goldman Sachs Group increased their price objective on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Finally, Piper Sandler lifted their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of "Hold" and an average price target of $282.93.

Arthur J. Gallagher & Co. Stock Performance

Shares of Arthur J. Gallagher & Co. stock traded down $2.76 during trading hours on Thursday, reaching $277.99. The company's stock had a trading volume of 1,208,359 shares, compared to its average volume of 834,290. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04. The company's 50 day simple moving average is $286.13 and its 200 day simple moving average is $263.48. The stock has a market cap of $60.74 billion, a P/E ratio of 56.57, a price-to-earnings-growth ratio of 2.37 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, July 25th. The financial services provider reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.24 by $0.02. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. Arthur J. Gallagher & Co.'s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share. As a group, analysts expect that Arthur J. Gallagher & Co. will post 10.14 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.'s payout ratio is 48.58%.

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.