Arthur J. Gallagher & Co. $AJG Stake Lowered by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. has reduced its stake in Arthur J. Gallagher & Co. by 1.4%, now holding 153,209 shares valued at approximately $52.89 million.
• Despite a revenue increase of 16% year-over-year, the company reported earnings of $2.33 per share, missing analysts' expectations of $2.36.
• The firm declared a quarterly dividend of $0.65, expected to be paid on September 19th, resulting in an annualized yield of 0.9%.

Clark Capital Management Group Inc. lowered its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 1.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,209 shares of the financial services provider's stock after selling 2,128 shares during the quarter. Clark Capital Management Group Inc. owned 0.06% of Arthur J. Gallagher & Co. worth $52,894,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HWG Holdings LP purchased a new stake in Arthur J. Gallagher & Co. in the first quarter valued at $25,000. AlphaQuest LLC purchased a new stake in Arthur J. Gallagher & Co. in the first quarter valued at $33,000. Saudi Central Bank purchased a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at $34,000. Centennial Bank AR purchased a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter valued at $38,000. Finally, Motco raised its holdings in shares of Arthur J. Gallagher & Co. by 700.0% in the 1st quarter. Motco now owns 112 shares of the financial services provider's stock valued at $39,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 85.53% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Erste Group Bank reiterated a "hold" rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. UBS Group lowered their price objective on Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen raised Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research report on Friday. Finally, Piper Sandler upped their target price on 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $333.13.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock traded down $0.24 during trading hours on Tuesday, reaching $298.88. 446,484 shares of the company's stock were exchanged, compared to its average volume of 1,528,744. The company has a market cap of $76.63 billion, a P/E ratio of 42.43 and a beta of 0.72. The company's 50 day moving average is $302.40 and its two-hundred day moving average is $320.54. Arthur J. Gallagher & Co. has a 1 year low of $274.25 and a 1 year high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.29 earnings per share. Equities 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 company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.65 dividend. 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 (DPR) is presently 36.93%.

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.