BNP Paribas Financial Markets Cuts Position in Arthur J. Gallagher & Co. $AJG

Key Points

• BNP Paribas Financial Markets has decreased its stake in Arthur J. Gallagher & Co. by 32.6%, selling 170,078 shares, and now holds 351,536 shares worth approximately $121.4 million.
• Research analysts have mixed opinions on Arthur J. Gallagher & Co., with a consensus target price of $331.07, while some analysts have given it ratings ranging from "Strong Buy" to "Sell."
• The company recently announced a quarterly dividend of $0.65 per share, with an upcoming payout date of September 19th, representing an annualized yield of 0.9%.

BNP Paribas Financial Markets lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 351,536 shares of the financial services provider's stock after selling 170,078 shares during the period. BNP Paribas Financial Markets owned 0.14% of Arthur J. Gallagher & Co. worth $121,364,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. CWA Asset Management Group LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 22.5% during the 1st quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock worth $388,000 after acquiring an additional 207 shares during the period. Two Sigma Investments LP purchased a new position in shares of Arthur J. Gallagher & Co. during the 4th quarter worth $382,000. Golden State Wealth Management LLC raised its holdings in Arthur J. Gallagher & Co. by 2,750.0% in the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock valued at $39,000 after buying an additional 110 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Arthur J. Gallagher & Co. by 0.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,280 shares of the financial services provider's stock valued at $3,879,000 after buying an additional 82 shares during the period. Finally, Seven Grand Managers LLC purchased a new stake in Arthur J. Gallagher & Co. in the 4th quarter valued at about $7,096,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Down 0.3%

Shares of AJG stock traded down $0.97 during trading on Thursday, reaching $302.74. The company's stock had a trading volume of 203,110 shares, compared to its average volume of 1,532,850. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market capitalization of $77.62 billion, a price-to-earnings ratio of 43.00 and a beta of 0.72. The stock's 50-day moving average price is $303.56 and its 200 day moving average price is $321.13. 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 announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $3.20 billion. During the same quarter last year, the firm posted $2.29 EPS. The company's revenue for the quarter was up 16.0% on a year-over-year basis. On average, research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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 paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 36.93%.

Wall Street Analyst Weigh In

AJG has been the topic of several research analyst reports. UBS Group reduced their price objective on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Barclays reduced 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 report on Monday, July 7th. Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday, August 13th. Keefe, Bruyette & Woods boosted their price objective on shares of 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, Wells Fargo & Company boosted their price target on shares of Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $333.13.

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.