TD Asset Management Inc. Has $253.40 Million Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

TD Asset Management Inc. grew its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 11.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 892,709 shares of the financial services provider’s stock after purchasing an additional 92,990 shares during the period. TD Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $253,395,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in AJG. Vanguard Group Inc. increased its holdings in Arthur J. Gallagher & Co. by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider’s stock worth $8,422,435,000 after buying an additional 3,851,661 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 126.2% during the 4th quarter. Principal Financial Group Inc. now owns 2,003,237 shares of the financial services provider’s stock valued at $568,619,000 after purchasing an additional 1,117,441 shares in the last quarter. FMR LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 4.9% in the 3rd quarter. FMR LLC now owns 12,305,478 shares of the financial services provider’s stock valued at $3,462,392,000 after purchasing an additional 580,134 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter worth $163,087,000. Finally, Sei Investments Co. increased its position in Arthur J. Gallagher & Co. by 307.2% during the fourth quarter. Sei Investments Co. now owns 742,746 shares of the financial services provider’s stock worth $210,829,000 after buying an additional 560,325 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AJG has been the subject of several recent analyst reports. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their price target for the company from $295.00 to $377.00 in a report on Friday, January 10th. Wells Fargo & Company boosted their price objective on shares of Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group downgraded shares of Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 target price on the stock. in a report on Monday, November 25th. Finally, Royal Bank of Canada raised their price target on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $310.43.

Arthur J. Gallagher & Co. Trading Up 1.9 %

Arthur J. Gallagher & Co. stock opened at $338.10 on Tuesday. The business has a 50 day moving average price of $318.01 and a two-hundred day moving average price of $299.81. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. Arthur J. Gallagher & Co. has a 12 month low of $230.08 and a 12 month high of $345.43. The stock has a market cap of $86.11 billion, a price-to-earnings ratio of 51.86 and a beta of 0.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.65 dividend. The ex-dividend date was Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. Arthur J. Gallagher & Co.’s payout ratio is presently 39.88%.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, Director Sherry S. Barrat sold 2,500 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $304.33, for a total value of $760,825.00. Following the sale, the director now directly owns 16,533 shares in the company, valued at $5,031,487.89. This represents a 13.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Scott R. Hudson sold 7,510 shares of Arthur J. Gallagher & Co. stock in a transaction on 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 transaction, the vice president now directly owns 90,020 shares of the company’s stock, valued at approximately $30,029,771.80. The trade was a 7.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,235 shares of company stock valued at $7,478,224 over the last quarter. Corporate 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.