Arthur J. Gallagher & Co. $AJG Shares Sold by Amundi

Key Points

• Amundi has reduced its stake in Arthur J. Gallagher & Co. by 23.1% during the first quarter, now holding approximately 0.22% of the company valued at $191.6 million.
• Arthur J. Gallagher & Co. reported Q2 earnings of $2.33 per share, missing estimates, while revenue increased by 16% to $3.18 billion compared to the same quarter last year.
• The company will pay a quarterly dividend of $0.65 per share on September 19th, resulting in an annualized yield of 0.9%.

Amundi decreased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 23.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 556,338 shares of the financial services provider's stock after selling 167,109 shares during the period. Amundi owned approximately 0.22% of Arthur J. Gallagher & Co. worth $191,603,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Paragon Private Wealth Management LLC increased its holdings in Arthur J. Gallagher & Co. by 35.1% in the 1st quarter. Paragon Private Wealth Management LLC now owns 1,306 shares of the financial services provider's stock worth $451,000 after buying an additional 339 shares during the period. Rench Wealth Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 0.9% during the 1st quarter. Rench Wealth Management Inc. now owns 49,160 shares of the financial services provider's stock worth $16,972,000 after purchasing an additional 459 shares during the period. Federation des caisses Desjardins du Quebec grew its position in Arthur J. Gallagher & Co. by 24.8% during the first quarter. Federation des caisses Desjardins du Quebec now owns 126,042 shares of the financial services provider's stock valued at $43,525,000 after buying an additional 25,029 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. by 5.8% in the 1st quarter. EP Wealth Advisors LLC now owns 2,071 shares of the financial services provider's stock valued at $715,000 after purchasing an additional 114 shares in the last quarter. Finally, Ashton Thomas Securities LLC grew its holdings in Arthur J. Gallagher & Co. by 3.9% in the first quarter. Ashton Thomas Securities LLC now owns 2,895 shares of the financial services provider's stock valued at $999,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Trading Down 1.3%

Shares of AJG traded down $3.79 during midday trading on Wednesday, hitting $294.71. 308,841 shares of the stock were exchanged, compared to its average volume of 1,525,347. Arthur J. Gallagher & Co. has a 52-week low of $274.25 and a 52-week high of $351.23. The stock has a fifty day simple moving average of $301.96 and a 200 day simple moving average of $320.38. The firm has a market cap of $75.56 billion, a P/E ratio of 41.86 and a beta of 0.72. 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 - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.03). The firm had revenue of $3.18 billion for 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%.Arthur J. Gallagher & Co.'s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 EPS. On average, research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AJG. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Piper Sandler increased their target price on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Citigroup assumed 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 target on the stock. The Goldman Sachs Group assumed 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 target on the stock. Finally, Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. 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, Arthur J. Gallagher & Co. currently has a consensus rating of "Hold" and a consensus target price of $333.13.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $297.60, for a total value of $3,825,648.00. Following the sale, the vice president directly owned 85,920 shares in the company, valued at approximately $25,569,792. This trade represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

Arthur J. Gallagher & Co. Company 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.