Alliancebernstein L.P. Has $417.54 Million Holdings in Arthur J. Gallagher & Co. $AJG

Key Points

• Alliancebernstein L.P. increased its stake in Arthur J. Gallagher & Co. by 28.9%, acquiring an additional 271,014 shares during the first quarter, bringing its total holdings to over 1.2 million shares valued at approximately $417.5 million.
• Arthur J. Gallagher recently announced a quarterly dividend of $0.65, payable on September 19th, with a current annualized payout yield of 0.9%.
• Despite a year-over-year revenue increase of 16%, the company reported a slight earnings miss with an EPS of $2.33 against estimates of $2.36.

Alliancebernstein L.P. boosted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 28.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,209,424 shares of the financial services provider's stock after acquiring an additional 271,014 shares during the period. Alliancebernstein L.P. owned approximately 0.47% of Arthur J. Gallagher & Co. worth $417,542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AJG. JPMorgan Chase & Co. lifted its holdings in Arthur J. Gallagher & Co. by 38.3% during the first quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider's stock worth $5,997,767,000 after acquiring an additional 4,815,007 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Arthur J. Gallagher & Co. by 1,511.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,758,166 shares of the financial services provider's stock worth $499,055,000 after acquiring an additional 1,649,046 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 2.5% during the first quarter. Vanguard Group Inc. now owns 30,411,264 shares of the financial services provider's stock worth $10,499,185,000 after acquiring an additional 739,130 shares in the last quarter. Nuveen LLC bought a new position in Arthur J. Gallagher & Co. during the first quarter worth about $240,665,000. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Arthur J. Gallagher & Co. by 3,142.2% in the first quarter. 1832 Asset Management L.P. now owns 640,911 shares of the financial services provider's stock valued at $221,268,000 after purchasing an additional 621,143 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AJG. Barclays cut their price target on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Cantor Fitzgerald upgraded Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday, August 13th. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a report on Friday. Keefe, Bruyette & Woods boosted their price target on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, Piper Sandler boosted their price target on Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the company an "overweight" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Arthur J. Gallagher & Co. has an average rating of "Hold" and a consensus target price of $333.13.

Arthur J. Gallagher & Co. Stock Down 0.5%

Shares of NYSE:AJG traded down $1.48 during midday trading on Tuesday, reaching $297.64. The company had a trading volume of 353,651 shares, compared to its average volume of 1,527,980. 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 business's 50 day moving average price is $302.40 and its 200 day moving average price is $320.54. The stock has a market cap of $76.31 billion, a PE ratio of 42.28 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1-year low of $274.25 and a 1-year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analyst estimates 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 was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.29 EPS. Research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Arthur J. Gallagher & Co. 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.