M&T Bank Corp Reduces Position in Arthur J. Gallagher & Co. (NYSE:AJG)

M&T Bank Corp trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,008 shares of the financial services provider’s stock after selling 12,405 shares during the quarter. M&T Bank Corp’s holdings in Arthur J. Gallagher & Co. were worth $18,217,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in Arthur J. Gallagher & Co. by 8.1% during the 3rd quarter. FMR LLC now owns 9,664,117 shares of the financial services provider’s stock valued at $2,202,742,000 after purchasing an additional 726,485 shares during the last quarter. Morgan Stanley lifted its stake in Arthur J. Gallagher & Co. by 0.6% in the third quarter. Morgan Stanley now owns 6,209,557 shares of the financial services provider’s stock worth $1,415,345,000 after acquiring an additional 34,999 shares during the period. JPMorgan Chase & Co. boosted its holdings in Arthur J. Gallagher & Co. by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 5,000,975 shares of the financial services provider’s stock valued at $1,139,872,000 after acquiring an additional 90,842 shares in the last quarter. WCM Investment Management LLC increased its position in Arthur J. Gallagher & Co. by 0.5% during the 4th quarter. WCM Investment Management LLC now owns 2,610,081 shares of the financial services provider’s stock valued at $583,249,000 after purchasing an additional 13,208 shares during the period. Finally, Invesco Ltd. raised its holdings in Arthur J. Gallagher & Co. by 3.6% in the 3rd quarter. Invesco Ltd. now owns 2,572,182 shares of the financial services provider’s stock worth $586,277,000 after purchasing an additional 88,861 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, Director David S. Johnson sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $234.04, for a total value of $117,020.00. Following the sale, the director now owns 45,038 shares in the company, valued at $10,540,693.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 500 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $234.04, for a total value of $117,020.00. Following the transaction, the director now owns 45,038 shares of the company’s stock, valued at $10,540,693.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Joel D. Cavaness sold 1,207 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $255.20, for a total value of $308,026.40. Following the sale, the vice president now owns 2,023 shares of the company’s stock, valued at $516,269.60. The disclosure for this sale can be found here. Insiders sold 29,016 shares of company stock worth $7,176,180 over the last three months. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Stock Up 0.1 %

NYSE AJG traded up $0.18 during mid-day trading on Friday, reaching $238.72. The stock had a trading volume of 545,286 shares, compared to its average volume of 839,971. The stock has a market cap of $52.16 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 2.23 and a beta of 0.69. Arthur J. Gallagher & Co. has a 1 year low of $198.52 and a 1 year high of $256.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.03. The company has a fifty day moving average price of $243.70 and a 200 day moving average price of $239.01.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.08. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the business earned $3.03 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. On average, research analysts expect that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, June 7th. Arthur J. Gallagher & Co.’s payout ratio is presently 48.58%.

Analyst Upgrades and Downgrades

AJG has been the topic of several research analyst reports. Piper Sandler reduced their price target on shares of Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Royal Bank of Canada lifted their price target on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. TD Cowen increased their price objective on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods dropped their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating on the stock in a report on Wednesday, April 10th. Finally, Jefferies Financial Group lowered shares of Arthur J. Gallagher & Co. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $279.00 to $233.00 in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $255.31.

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.