Trustmark Bank Trust Department Purchases 1,885 Shares of Arthur J. Gallagher & Co. $AJG

Trustmark Bank Trust Department grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 53.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,432 shares of the financial services provider’s stock after acquiring an additional 1,885 shares during the period. Trustmark Bank Trust Department’s holdings in Arthur J. Gallagher & Co. were worth $1,739,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SeaCrest Wealth Management LLC raised its position in Arthur J. Gallagher & Co. by 2.3% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,542 shares of the financial services provider’s stock valued at $494,000 after purchasing an additional 34 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Arthur J. Gallagher & Co. by 1.3% during the first quarter. Ashton Thomas Private Wealth LLC now owns 2,746 shares of the financial services provider’s stock valued at $948,000 after buying an additional 35 shares during the period. Contravisory Investment Management Inc. raised its holdings in shares of Arthur J. Gallagher & Co. by 0.6% during the second quarter. Contravisory Investment Management Inc. now owns 5,501 shares of the financial services provider’s stock valued at $1,761,000 after acquiring an additional 35 shares in the last quarter. Tritonpoint Wealth LLC lifted its stake in Arthur J. Gallagher & Co. by 1.1% in the second quarter. Tritonpoint Wealth LLC now owns 3,222 shares of the financial services provider’s stock worth $1,032,000 after acquiring an additional 35 shares during the period. Finally, D.A. Davidson & CO. boosted its holdings in Arthur J. Gallagher & Co. by 1.2% in the second quarter. D.A. Davidson & CO. now owns 2,892 shares of the financial services provider’s stock valued at $926,000 after acquiring an additional 35 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $247.69 on Friday. Arthur J. Gallagher & Co. has a fifty-two week low of $239.47 and a fifty-two week high of $351.23. The firm’s 50-day simple moving average is $275.86 and its two-hundred day simple moving average is $299.07. The stock has a market cap of $63.61 billion, a PE ratio of 35.18 and a beta of 0.71. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.19). The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.34 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.26 earnings per share. Analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, December 5th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 38.86%.

Insider Activity

In related news, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction dated 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 sale, the vice president directly owned 85,920 shares of the company’s stock, valued at approximately $25,569,792. This represents a 13.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher E. Mead sold 1,250 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $250.74, for a total transaction of $313,425.00. Following the completion of the transaction, the vice president directly owned 17,327 shares of the company’s stock, valued at $4,344,571.98. This trade represents a 6.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 37,105 shares of company stock valued at $10,796,353. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on AJG shares. Cowen restated a “buy” rating on shares of Arthur J. Gallagher & Co. in a report on Friday, October 31st. Wolfe Research began coverage on shares of Arthur J. Gallagher & Co. in a research note on Thursday, November 20th. They issued an “outperform” rating and a $291.00 price target for the company. Keefe, Bruyette & Woods cut their price objective on Arthur J. Gallagher & Co. from $315.00 to $275.00 and set a “market perform” rating on the stock in a research report on Friday, October 31st. Wall Street Zen downgraded Arthur J. Gallagher & Co. from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Piper Sandler lowered their target price on Arthur J. Gallagher & Co. from $340.00 to $295.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $316.33.

About Arthur J. Gallagher & Co.

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.