Teachers Retirement System of The State of Kentucky Sells 529 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Teachers Retirement System of The State of Kentucky lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,082 shares of the financial services provider’s stock after selling 529 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Arthur J. Gallagher & Co. were worth $4,430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AJG. Steward Partners Investment Advisory LLC lifted its position in shares of Arthur J. Gallagher & Co. by 12.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,290 shares of the financial services provider’s stock worth $515,000 after buying an additional 261 shares in the last quarter. TFO Wealth Partners LLC lifted its position in shares of Arthur J. Gallagher & Co. by 19,333.3% during the 4th quarter. TFO Wealth Partners LLC now owns 583 shares of the financial services provider’s stock worth $131,000 after buying an additional 580 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Arthur J. Gallagher & Co. by 35.6% during the 4th quarter. Bank of Nova Scotia now owns 26,724 shares of the financial services provider’s stock worth $6,010,000 after buying an additional 7,012 shares in the last quarter. Capital World Investors lifted its position in shares of Arthur J. Gallagher & Co. by 24.9% during the 4th quarter. Capital World Investors now owns 4,433,710 shares of the financial services provider’s stock worth $997,053,000 after buying an additional 884,394 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Arthur J. Gallagher & Co. by 193.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 30,452 shares of the financial services provider’s stock worth $6,848,000 after buying an additional 20,069 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 0.1 %

AJG opened at $285.91 on Thursday. The company has a fifty day moving average price of $287.14 and a 200-day moving average price of $264.46. The firm has a market capitalization of $62.47 billion, a P/E ratio of 57.88, a price-to-earnings-growth ratio of 2.37 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly 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 firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.77 billion. Arthur J. Gallagher & Co. had a net margin of 10.41% and a return on equity of 19.25%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 EPS. Equities research analysts expect that Arthur J. Gallagher & Co. will post 10.14 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.60 dividend. The ex-dividend date was Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.84%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 48.58%.

Insider Buying and Selling

In related news, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the transaction, the president now directly owns 329,099 shares in the company, valued at $93,121,853.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the completion of the transaction, the president now directly owns 329,099 shares in the company, valued at $93,121,853.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Walter D. Bay sold 6,335 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the completion of the transaction, the general counsel now owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,145 shares of company stock worth $12,622,660. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

AJG has been the topic of a number of research reports. Jefferies Financial Group lifted their price target on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a report on Friday, July 26th. BMO Capital Markets upped their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their price objective on Arthur J. Gallagher & Co. from $301.00 to $309.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. The Goldman Sachs Group increased their target price on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Finally, Truist Financial boosted their price target on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. presently has a consensus rating of “Hold” and a consensus target price of $282.93.

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.