Tompkins Financial Corp Sells 366 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Tompkins Financial Corp decreased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 50,743 shares of the financial services provider’s stock after selling 366 shares during the period. Arthur J. Gallagher & Co. makes up 1.7% of Tompkins Financial Corp’s holdings, making the stock its 15th largest position. Tompkins Financial Corp’s holdings in Arthur J. Gallagher & Co. were worth $17,519,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Hartford Investment Management Co. raised its stake in Arthur J. Gallagher & Co. by 11.1% during the 4th quarter. Hartford Investment Management Co. now owns 15,434 shares of the financial services provider’s stock worth $4,381,000 after buying an additional 1,537 shares during the period. Retirement Systems of Alabama raised its stake in Arthur J. Gallagher & Co. by 4.0% during the 4th quarter. Retirement Systems of Alabama now owns 181,269 shares of the financial services provider’s stock worth $51,453,000 after buying an additional 6,905 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Arthur J. Gallagher & Co. by 23.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,055 shares of the financial services provider’s stock worth $7,963,000 after buying an additional 5,333 shares during the period. Baltimore Washington Financial Advisors Inc. raised its stake in Arthur J. Gallagher & Co. by 13.7% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 51,745 shares of the financial services provider’s stock worth $14,688,000 after buying an additional 6,248 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in Arthur J. Gallagher & Co. by 337.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,243 shares of the financial services provider’s stock worth $921,000 after buying an additional 2,502 shares during the period. Institutional investors own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on AJG shares. Jefferies Financial Group dropped their price objective on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods upped their target price on shares of Arthur J. Gallagher & Co. from $307.00 to $315.00 and gave the stock a “market perform” rating in a research note on Friday, May 2nd. Barclays upped their target price on shares of Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an “equal weight” rating in a research note on Friday, April 11th. Royal Bank of Canada upped their target price on shares of Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Redburn Atlantic began coverage on shares of Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They issued a “neutral” rating and a $352.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus price target of $318.57.

Arthur J. Gallagher & Co. Trading Up 0.5%

Shares of NYSE:AJG opened at $341.54 on Friday. Arthur J. Gallagher & Co. has a 52-week low of $244.60 and a 52-week high of $350.70. The company has a market capitalization of $87.47 billion, a P/E ratio of 52.38 and a beta of 0.78. The company has a 50-day simple moving average of $332.65 and a 200 day simple moving average of $314.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.10. Arthur J. Gallagher & Co. had a net margin of 12.70% and a return on equity of 16.47%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period last year, the business posted $3.45 EPS. Arthur J. Gallagher & Co.’s revenue was up 14.5% on a year-over-year basis. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.65 dividend. The ex-dividend date is Friday, June 6th. This represents a $2.60 annualized dividend and a yield of 0.76%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 37.63%.

Insider Activity at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 7,510 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $333.59, for a total value of $2,505,260.90. Following the completion of the sale, the vice president now directly owns 90,020 shares in the company, valued at approximately $30,029,771.80. This trade represents a 7.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David S. Johnson sold 1,000 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $342.04, for a total transaction of $342,040.00. Following the completion of the transaction, the director now directly owns 45,323 shares in the company, valued at approximately $15,502,278.92. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,510 shares of company stock worth $11,033,341. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.