Campbell Newman Asset Management Inc. Trims Position in Arthur J. Gallagher & Co. $AJG

Key Points

• Campbell Newman Asset Management cut its stake in Arthur J. Gallagher & Co. by 94.4% in the first quarter, selling 114,673 shares and ending with 6,759 shares valued at about $1.46 million.
• Analyst sentiment remains mostly positive, with 13 Buy ratings and 6 Hold ratings; the stock carries a Moderate Buy consensus and an average price target of $264.12.
• AJG reported Q1 earnings of $4.47 per share, topping estimates, and recently paid a quarterly dividend of $0.70, equal to a 1.3% annualized yield.

Campbell Newman Asset Management Inc. reduced its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 94.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,759 shares of the financial services provider's stock after selling 114,673 shares during the period. Campbell Newman Asset Management Inc.'s holdings in Arthur J. Gallagher & Co. were worth $1,464,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc increased its stake in Arthur J. Gallagher & Co. by 1.4% in the third quarter. IFP Advisors Inc now owns 3,064 shares of the financial services provider's stock valued at $949,000 after purchasing an additional 41 shares during the last quarter. AMG National Trust Bank boosted its stake in Arthur J. Gallagher & Co. by 2.7% in the 3rd quarter. AMG National Trust Bank now owns 1,616 shares of the financial services provider's stock worth $501,000 after buying an additional 42 shares during the last quarter. Journey Strategic Wealth LLC increased its stake in shares of Arthur J. Gallagher & Co. by 2.9% during the 3rd quarter. Journey Strategic Wealth LLC now owns 1,551 shares of the financial services provider's stock valued at $480,000 after acquiring an additional 43 shares during the last quarter. KCM Investment Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 4.1% during the 3rd quarter. KCM Investment Advisors LLC now owns 1,127 shares of the financial services provider's stock worth $349,000 after acquiring an additional 44 shares during the period. Finally, Ritholtz Wealth Management boosted its position in shares of Arthur J. Gallagher & Co. by 0.4% in the fourth quarter. Ritholtz Wealth Management now owns 10,061 shares of the financial services provider's stock worth $2,604,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AJG shares. Mizuho dropped their price target on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. Truist Financial decreased their price target on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a "hold" rating on the stock in a report on Friday, May 1st. Barclays boosted their price objective on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Jefferies Financial Group raised Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and increased their target price for the stock from $235.00 to $265.00 in a research report on Thursday, June 11th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Arthur J. Gallagher & Co. in a research report on Monday, June 15th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $264.12.

Arthur J. Gallagher & Co. Trading Up 0.2%

Shares of AJG stock opened at $214.45 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Arthur J. Gallagher & Co. has a fifty-two week low of $190.75 and a fifty-two week high of $327.34. The firm's 50 day moving average price is $210.65 and its two-hundred day moving average price is $226.76. The stock has a market cap of $55.09 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 1.09 and a beta of 0.53.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, beating analysts' consensus estimates of $4.43 by $0.04. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The business's revenue for the quarter was up 29.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.67 EPS. On average, analysts anticipate that Arthur J. Gallagher & Co. will post 13.24 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 5th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.80 annualized dividend and a yield of 1.3%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 45.31%.

Insider Buying and Selling

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the transaction, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. The trade was a 5.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company's core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.

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