Tompkins Financial Corp Trims Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Tompkins Financial Corp reduced its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,244 shares of the financial services provider’s stock after selling 215 shares during the quarter. Arthur J. Gallagher & Co. accounts for approximately 1.4% of Tompkins Financial Corp’s holdings, making the stock its 17th biggest position. Tompkins Financial Corp’s holdings in Arthur J. Gallagher & Co. were worth $14,419,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in Arthur J. Gallagher & Co. during the second quarter valued at approximately $26,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth $26,000. Creekmur Asset Management LLC bought a new position in Arthur J. Gallagher & Co. in the 1st quarter worth $27,000. DiNuzzo Private Wealth Inc. lifted its position in Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. Finally, Quarry LP bought a new stake in Arthur J. Gallagher & Co. during the second quarter valued at about $29,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,625,146.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the completion of the transaction, the chief financial officer now owns 75,963 shares in the company, valued at $21,625,146.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG traded up $4.21 during midday trading on Friday, reaching $294.77. 787,835 shares of the stock traded hands, compared to its average volume of 846,875. The company’s 50 day moving average is $288.47 and its 200 day moving average is $272.62. Arthur J. Gallagher & Co. has a one year low of $218.63 and a one year high of $301.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $64.67 billion, a PE ratio of 56.15, a P/E/G ratio of 2.40 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the company posted $2.00 EPS. The business’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AJG. Piper Sandler raised their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. 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 report on Friday, July 26th. BMO Capital Markets increased their price objective on shares of Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. The Goldman Sachs Group lifted their target price on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Finally, Barclays started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price target for the company. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average price target of $287.00.

Arthur J. Gallagher & Co. Company 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.