Massmutual Trust Co. FSB ADV Reduces Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Massmutual Trust Co. FSB ADV trimmed its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 805 shares of the financial services provider’s stock after selling 113 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Arthur J. Gallagher & Co. were worth $201,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS Group AG raised its stake in shares of Arthur J. Gallagher & Co. by 8.5% during the 4th quarter. UBS Group AG now owns 361,441 shares of the financial services provider’s stock valued at $81,281,000 after purchasing an additional 28,359 shares during the period. McGlone Suttner Wealth Management Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 4.0% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 88 shares during the period. Mackenzie Financial Corp raised its stake in shares of Arthur J. Gallagher & Co. by 16.1% during the 4th quarter. Mackenzie Financial Corp now owns 112,087 shares of the financial services provider’s stock valued at $25,206,000 after purchasing an additional 15,528 shares during the period. National Bank of Canada FI raised its stake in shares of Arthur J. Gallagher & Co. by 3.2% during the 4th quarter. National Bank of Canada FI now owns 92,061 shares of the financial services provider’s stock valued at $20,713,000 after purchasing an additional 2,821 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $2,946,000. 85.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 16,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the sale, the chief financial officer now owns 80,952 shares in the company, valued at approximately $20,109,286.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Richard C. Cary sold 3,395 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $254.00, for a total value of $862,330.00. Following the completion of the transaction, the chief accounting officer now owns 38,314 shares of the company’s stock, valued at approximately $9,731,756. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Douglas K. Howell sold 16,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $248.41, for a total value of $3,974,560.00. Following the completion of the transaction, the chief financial officer now directly owns 80,952 shares of the company’s stock, valued at approximately $20,109,286.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,165 shares of company stock worth $13,629,049. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Trading Up 1.1 %

Shares of AJG stock opened at $264.66 on Friday. The stock has a market capitalization of $57.83 billion, a PE ratio of 53.57, a P/E/G ratio of 2.37 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1-year low of $209.39 and a 1-year high of $264.70. The business has a 50-day moving average of $247.82 and a 200 day moving average of $241.89. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data 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 business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter last year, the business posted $3.03 EPS. The business’s revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 48.58%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Royal Bank of Canada upped their target price on Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Argus upped their target price on Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Piper Sandler decreased their target price on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. TD Cowen upped 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. Finally, Keefe, Bruyette & Woods cut their price objective on Arthur J. Gallagher & Co. from $246.00 to $240.00 and set an “underperform” rating for the company in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $260.58.

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.