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

Tompkins Financial Corp lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,109 shares of the financial services provider’s stock after selling 135 shares during the period. Arthur J. Gallagher & Co. accounts for approximately 1.3% of Tompkins Financial Corp’s portfolio, making the stock its 20th largest holding. Tompkins Financial Corp’s holdings in Arthur J. Gallagher & Co. were worth $14,507,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FMR LLC grew its holdings in Arthur J. Gallagher & Co. by 4.9% during 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 buying an additional 580,134 shares during the last quarter. State Street Corp boosted its stake in shares of Arthur J. Gallagher & Co. by 0.5% during the third quarter. State Street Corp now owns 8,932,007 shares of the financial services provider’s stock valued at $2,513,199,000 after acquiring an additional 47,656 shares during the last quarter. Geode Capital Management LLC increased its position in Arthur J. Gallagher & Co. by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider’s stock worth $1,541,044,000 after purchasing an additional 79,429 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Arthur J. Gallagher & Co. by 13.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock valued at $899,538,000 after purchasing an additional 383,130 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Arthur J. Gallagher & Co. by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider’s stock valued at $425,511,000 after purchasing an additional 42,841 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, October 28th. The shares were sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the sale, the chief financial officer now owns 75,963 shares of the company’s stock, valued at $21,626,666.10. The trade was a 8.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AJG. Truist Financial boosted their price objective 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. Wells Fargo & Company increased their price target on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their target price for the company from $285.00 to $315.00 in a research note on Wednesday, January 8th. Jefferies Financial Group raised their price target on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Bank of America upped their price objective on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $304.07.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $295.65 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The company has a market cap of $73.85 billion, a PE ratio of 56.31 and a beta of 0.76. The company’s fifty day simple moving average is $291.88 and its 200-day simple moving average is $286.36. Arthur J. Gallagher & Co. has a 52 week low of $227.08 and a 52 week high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the company posted $2.00 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.06 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 45.71%.

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.