Teacher Retirement System of Texas Has $26.43 Million Position in Arthur J. Gallagher & Co. $AJG

Teacher Retirement System of Texas reduced its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,560 shares of the financial services provider’s stock after selling 2,816 shares during the period. Teacher Retirement System of Texas’ holdings in Arthur J. Gallagher & Co. were worth $26,429,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. J.Safra Asset Management Corp lifted its holdings in Arthur J. Gallagher & Co. by 209.1% in the second quarter. J.Safra Asset Management Corp now owns 102 shares of the financial services provider’s stock valued at $32,000 after buying an additional 69 shares during the period. AlphaQuest LLC acquired a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $33,000. Saudi Central Bank acquired a new stake in Arthur J. Gallagher & Co. in the first quarter worth $34,000. Centennial Bank AR acquired a new stake in Arthur J. Gallagher & Co. in the first quarter worth $38,000. Finally, Golden State Wealth Management LLC raised its holdings in Arthur J. Gallagher & Co. by 2,750.0% in the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 110 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Douglas K. Howell sold 8,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total value of $2,396,320.00. Following the completion of the transaction, the chief financial officer owned 100,777 shares of the company’s stock, valued at approximately $30,186,742.58. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott R. Hudson sold 12,855 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the completion of the transaction, the vice president directly owned 85,920 shares of the company’s stock, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,855 shares of company stock valued at $8,916,928. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AJG shares. Keefe, Bruyette & Woods increased their target price on shares of Arthur J. Gallagher & Co. from $288.00 to $298.00 and gave the stock a “market perform” rating in a report on Friday, September 19th. The Goldman Sachs Group started coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 3rd. They issued a “buy” rating and a $344.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Arthur J. Gallagher & Co. from $365.00 to $366.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a “strong-buy” rating in a report on Wednesday, August 13th. Finally, Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of “Moderate Buy” and a consensus target price of $331.43.

Arthur J. Gallagher & Co. Stock Down 0.6%

Shares of AJG stock opened at $279.14 on Tuesday. The firm has a fifty day moving average of $298.10 and a 200-day moving average of $312.14. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 12-month low of $275.56 and a 12-month high of $351.23. The company has a market capitalization of $71.57 billion, a price-to-earnings ratio of 39.65 and a beta of 0.73.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the business posted $2.29 EPS. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 36.93%.

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.