Arthur J. Gallagher & Co. $AJG Position Lowered by Campbell Newman Asset Management Inc.

Key Points

• Campbell Newman Asset Management Inc. has reduced its stake in Arthur J. Gallagher & Co. by 3.7%, now holding 120,880 shares valued at approximately $38.7 million.
• Arthur J. Gallagher's latest quarterly earnings reported an EPS of $2.33, missing estimates by $0.03, while revenue increased by 16% year-over-year.
• Current analyst ratings show a consensus rating of Hold with a target price averaging $330.93, with several firms recently adjusting their price targets upward.

Campbell Newman Asset Management Inc. lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,880 shares of the financial services provider's stock after selling 4,611 shares during the quarter. Arthur J. Gallagher & Co. comprises about 3.1% of Campbell Newman Asset Management Inc.'s holdings, making the stock its 9th biggest holding. Campbell Newman Asset Management Inc.'s holdings in Arthur J. Gallagher & Co. were worth $38,696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. HWG Holdings LP acquired a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth approximately $25,000. AlphaQuest LLC acquired a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $33,000. Saudi Central Bank purchased a new position in Arthur J. Gallagher & Co. in the first quarter worth approximately $34,000. Centennial Bank AR acquired a new stake in Arthur J. Gallagher & Co. during the first quarter worth $38,000. Finally, Golden State Wealth Management LLC raised its position 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 valued at $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.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AJG shares. Keefe, Bruyette & Woods increased their price target on 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. Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a research report on Wednesday, August 13th. Piper Sandler upped their price objective on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. The Goldman Sachs Group initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, September 3rd. They set a "buy" rating and a $344.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on Arthur J. Gallagher & Co. from $369.00 to $365.00 and set an "overweight" rating on the stock in a research report on Friday, September 19th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $330.93.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG opened at $305.40 on Tuesday. 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 fifty-two week low of $275.56 and a fifty-two week high of $351.23. The company has a market cap of $78.30 billion, a P/E ratio of 43.38 and a beta of 0.72. The firm's 50 day moving average price is $297.87 and its 200 day moving average price is $317.15.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly 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 business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The business's revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. On average, research analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 36.93%.

Insider Transactions at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 8,000 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total transaction of $2,396,320.00. Following the completion of the transaction, the chief financial officer owned 100,777 shares in the company, valued at $30,186,742.58. The trade was a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 85,920 shares in the company, valued at approximately $25,569,792. This represents a 13.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,855 shares of company stock valued at $8,916,928. Corporate insiders own 1.60% of the company's stock.

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.

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