Adage Capital Partners GP L.L.C. Has $99.12 Million Position in Arthur J. Gallagher & Co. $AJG

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Arthur J. Gallagher & Co. by 29.7%, owning 287,103 shares valued at approximately $99.1 million after selling 121,300 shares.
• Arthur J. Gallagher & Co. reported a miss in quarterly earnings, with an EPS of $2.33, falling short of the consensus estimate of $2.36.
• The company has declared a quarterly dividend of $0.65 per share, with an annualized yield of 0.9%, which will be paid on September 19th to shareholders of record as of September 5th.

Adage Capital Partners GP L.L.C. cut its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 29.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 287,103 shares of the financial services provider's stock after selling 121,300 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.11% of Arthur J. Gallagher & Co. worth $99,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AJG. HWG Holdings LP acquired a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $25,000. AlphaQuest LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at about $33,000. Saudi Central Bank acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $34,000. Centennial Bank AR acquired a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $38,000. Finally, Golden State Wealth Management LLC increased its position in shares of 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 valued at $39,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Trading Down 0.4%

Arthur J. Gallagher & Co. stock traded down $1.21 during trading hours on Friday, hitting $299.01. The stock had a trading volume of 1,217,177 shares, compared to its average volume of 1,333,918. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The stock has a market cap of $76.67 billion, a price-to-earnings ratio of 42.47 and a beta of 0.72. Arthur J. Gallagher & Co. has a one year low of $274.25 and a one year high of $351.23. The business's 50 day simple moving average is $302.82 and its 200-day simple moving average is $320.75.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). The firm 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%. Arthur J. Gallagher & Co.'s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.29 earnings per share. On average, equities analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.'s payout ratio is currently 36.93%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AJG. The Goldman Sachs Group assumed coverage on Arthur J. Gallagher & Co. in a research report on Wednesday. They issued a "buy" rating and a $344.00 target price on the stock. Wells Fargo & Company boosted their price objective on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Piper Sandler boosted their price objective on Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a report on Friday. Finally, Cantor Fitzgerald upgraded Arthur J. Gallagher & Co. to a "strong-buy" rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $333.13.

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.