Toronto Dominion Bank Decreases Stake in Arthur J Gallagher & Co (NYSE:AJG)

Toronto Dominion Bank decreased its stake in shares of Arthur J Gallagher & Co (NYSE:AJG) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 113,275 shares of the financial services provider’s stock after selling 19,322 shares during the period. Toronto Dominion Bank owned about 0.06% of Arthur J Gallagher & Co worth $9,919,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Natixis lifted its position in shares of Arthur J Gallagher & Co by 4.3% during the second quarter. Natixis now owns 84,164 shares of the financial services provider’s stock worth $7,372,000 after purchasing an additional 3,448 shares during the last quarter. Ossiam bought a new position in shares of Arthur J Gallagher & Co during the second quarter worth about $627,000. Pictet Asset Management Ltd. lifted its position in shares of Arthur J Gallagher & Co by 4.1% during the second quarter. Pictet Asset Management Ltd. now owns 93,323 shares of the financial services provider’s stock worth $8,174,000 after purchasing an additional 3,700 shares during the last quarter. Cibc World Markets Corp lifted its position in shares of Arthur J Gallagher & Co by 96.9% during the second quarter. Cibc World Markets Corp now owns 47,994 shares of the financial services provider’s stock worth $4,204,000 after purchasing an additional 23,620 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its position in shares of Arthur J Gallagher & Co by 35.6% during the second quarter. Commonwealth Bank of Australia now owns 480 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 126 shares during the last quarter. 82.49% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently commented on AJG. Royal Bank of Canada set a $90.00 price target on shares of Arthur J Gallagher & Co and gave the stock a “hold” rating in a research report on Friday, July 26th. Credit Suisse Group reaffirmed an “outperform” rating and set a $93.00 price target (up previously from $88.00) on shares of Arthur J Gallagher & Co in a research report on Wednesday, August 7th. Zacks Investment Research raised shares of Arthur J Gallagher & Co from a “sell” rating to a “hold” rating and set a $76.00 price target on the stock in a research report on Tuesday, July 23rd. Barclays set a $107.00 price target on shares of Arthur J Gallagher & Co and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Co increased their price target on shares of Arthur J Gallagher & Co from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $90.00.

In related news, Director Kay W. Mccurdy sold 2,250 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $90.84, for a total transaction of $204,390.00. Following the sale, the director now owns 30,232 shares in the company, valued at $2,746,274.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

AJG traded down $0.83 on Friday, hitting $86.98. 1,052,777 shares of the company’s stock were exchanged, compared to its average volume of 833,237. The firm has a market cap of $16.34 billion, a PE ratio of 24.46, a P/E/G ratio of 2.51 and a beta of 0.82. Arthur J Gallagher & Co has a twelve month low of $68.19 and a twelve month high of $92.74. The stock has a fifty day moving average of $89.77 and a two-hundred day moving average of $85.24. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.77.

Arthur J Gallagher & Co (NYSE:AJG) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.76 billion. Arthur J Gallagher & Co had a net margin of 9.77% and a return on equity of 14.19%. Arthur J Gallagher & Co’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, analysts predict that Arthur J Gallagher & Co will post 3.64 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.72 annualized dividend and a yield of 1.98%. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is 49.86%.

Arthur J Gallagher & Co Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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Institutional Ownership by Quarter for Arthur J Gallagher & Co (NYSE:AJG)

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