Massmutual Trust Co. FSB ADV Has $259,000 Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Massmutual Trust Co. FSB ADV increased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 24.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 998 shares of the financial services provider’s stock after acquiring an additional 193 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Arthur J. Gallagher & Co. were worth $259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Hawaiian Bank grew its stake in shares of Arthur J. Gallagher & Co. by 10.3% in the second quarter. First Hawaiian Bank now owns 20,481 shares of the financial services provider’s stock worth $5,311,000 after purchasing an additional 1,907 shares during the last quarter. Appleton Partners Inc. MA increased its position in Arthur J. Gallagher & Co. by 1.6% in the second quarter. Appleton Partners Inc. MA now owns 50,072 shares of the financial services provider’s stock worth $12,984,000 after buying an additional 767 shares in the last quarter. Boston Partners boosted its stake in shares of Arthur J. Gallagher & Co. by 2.5% in the first quarter. Boston Partners now owns 1,611,299 shares of the financial services provider’s stock worth $402,206,000 after acquiring an additional 38,886 shares during the period. Cetera Advisors LLC increased its stake in Arthur J. Gallagher & Co. by 113.9% in the 1st quarter. Cetera Advisors LLC now owns 13,926 shares of the financial services provider’s stock worth $3,482,000 after acquiring an additional 7,415 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in Arthur J. Gallagher & Co. by 165.9% in the first quarter. Cetera Investment Advisers now owns 54,449 shares of the financial services provider’s stock worth $13,615,000 after buying an additional 33,972 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE:AJG traded down $9.03 during midday trading on Monday, reaching $278.11. 1,397,514 shares of the company traded hands, compared to its average volume of 851,793. The company has a quick ratio of 1.05, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $264.28 and its two-hundred day moving average price is $250.51. The firm has a market capitalization of $60.93 billion, a price-to-earnings ratio of 57.67, a price-to-earnings-growth ratio of 2.41 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12 month low of $215.37 and a 12 month high of $290.31.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the business posted $1.90 earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 10.15 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.40 annualized dividend and a yield of 0.86%. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 22nd. The Goldman Sachs Group increased their price objective on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research report on Friday, July 26th. Royal Bank of Canada boosted their price target on shares of Arthur J. Gallagher & Co. from $290.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Bank Of America (Bofa) boosted their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $274.44.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, Director David S. Johnson sold 850 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $257.84, for a total transaction of $219,164.00. Following the completion of the transaction, the director now directly owns 45,108 shares of the company’s stock, valued at approximately $11,630,646.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director David S. Johnson sold 850 shares of Arthur J. Gallagher & Co. stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $257.84, for a total transaction of $219,164.00. Following the completion of the sale, the director now directly owns 45,108 shares in the company, valued at approximately $11,630,646.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Douglas K. Howell sold 16,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, May 10th. The shares were 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 $20,109,286.32. The disclosure for this sale can be found here. Insiders sold a total of 68,210 shares of company stock worth $17,911,529 over the last three months. Insiders own 1.60% of the company’s stock.

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.