BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 13,492 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• British Columbia Investment Management Corp reduced its stake in Arthur J. Gallagher & Co. by 8.0%, holding approximately $53.88 million worth of the company's shares after selling 13,492 shares during the first quarter.
• Arthur J. Gallagher & Co. reported earnings of $2.33 per share for the quarter, slightly missing the analysts' consensus estimate of $2.36, with quarterly revenue increasing 16.0% year-over-year.
• The company has recently declared a quarterly dividend of $0.65 per share, with a payout ratio of 36.93% and a dividend yield of 0.9%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,076 shares of the financial services provider's stock after selling 13,492 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.06% of Arthur J. Gallagher & Co. worth $53,884,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. HWG Holdings LP bought a new position in shares of Arthur J. Gallagher & Co. during the first quarter valued at about $25,000. AlphaQuest LLC purchased a new stake in Arthur J. Gallagher & Co. in the first quarter worth about $33,000. Johnson Financial Group Inc. grew its holdings in Arthur J. Gallagher & Co. by 205.4% in the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after purchasing an additional 76 shares during the period. Parvin Asset Management LLC purchased a new stake in Arthur J. Gallagher & Co. in the fourth quarter worth about $35,000. Finally, Centennial Bank AR purchased a new stake in shares of Arthur J. Gallagher & Co. during the first quarter valued at approximately $38,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Price Performance

Shares of Arthur J. Gallagher & Co. stock traded down $0.44 during trading hours on Thursday, reaching $298.29. The company's stock had a trading volume of 265,732 shares, compared to its average volume of 1,535,551. The stock has a market cap of $76.48 billion, a P/E ratio of 42.34 and a beta of 0.68. Arthur J. Gallagher & Co. has a one year low of $274.25 and a one year high of $351.23. The firm has a 50 day moving average price of $305.46 and a 200-day moving average price of $321.89. 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 issued 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 firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $2.29 earnings per share. On average, analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently issued reports on AJG. Cantor Fitzgerald raised Arthur J. Gallagher & Co. to a "strong-buy" rating in a research report on Wednesday, August 13th. Barclays dropped their target price 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. Citigroup initiated coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, August 13th. They set a "neutral" rating and a $317.00 price target on the stock. Erste Group Bank restated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company raised their price objective on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and a consensus target price of $331.07.

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.