ARS Investment Partners LLC Sells 851 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• ARS Investment Partners LLC has reduced its stake in Arthur J. Gallagher & Co. by 1.0%, owning 83,331 shares valued at approximately $28.77 million following a sale of 851 shares.
• Arthur J. Gallagher & Co. announced a quarterly dividend of $0.65 per share, representing a 0.9% dividend yield, payable on September 19th to investors who are on record by September 5th.
• The company's recent earnings report indicated a missed EPS estimate of $2.36, with actual earnings at $2.33, and a revenue of $3.18 billion compared to analyst expectations of $3.20 billion.

ARS Investment Partners LLC trimmed its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,331 shares of the financial services provider's stock after selling 851 shares during the period. Arthur J. Gallagher & Co. comprises approximately 3.0% of ARS Investment Partners LLC's investment portfolio, making the stock its 11th biggest position. ARS Investment Partners LLC's holdings in Arthur J. Gallagher & Co. were worth $28,769,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. HWG Holdings LP bought a new stake in Arthur J. Gallagher & Co. during the first quarter valued at $25,000. Johnson Financial Group Inc. boosted its position in Arthur J. Gallagher & Co. by 205.4% during the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 76 shares during the last quarter. Parvin Asset Management LLC bought a new stake in Arthur J. Gallagher & Co. during the fourth quarter valued at $35,000. Centennial Bank AR bought a new stake in Arthur J. Gallagher & Co. during the first quarter valued at $38,000. Finally, Golden State Wealth Management LLC boosted its position in Arthur J. Gallagher & Co. by 2,750.0% during 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. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on AJG. Erste Group Bank reaffirmed a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. UBS Group cut their price target on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Barclays cut their price objective on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Citigroup began coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, August 13th. They set a "neutral" rating and a $317.00 price objective on the stock. Finally, Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $331.07.

Arthur J. Gallagher & Co. Stock Down 0.8%

NYSE AJG traded down $2.5550 during trading hours on Friday, hitting $302.8250. The company's stock had a trading volume of 1,165,433 shares, compared to its average volume of 1,790,757. Arthur J. Gallagher & Co. has a 52 week low of $274.25 and a 52 week high of $351.23. The company has a market capitalization of $77.64 billion, a PE ratio of 43.01 and a beta of 0.68. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The company's 50-day simple moving average is $306.50 and its two-hundred day simple moving average is $322.31.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the previous year, the business posted $2.29 EPS. Arthur J. Gallagher & Co.'s revenue was up 16.0% compared to the same quarter last year. Research analysts anticipate 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. Investors of record on Friday, September 5th will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.60 annualized dividend and a yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 36.93%.

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.