Cinctive Capital Management LP Has $1.60 Million Holdings in Arthur J. Gallagher & Co. $AJG

Key Points

• Cinctive Capital Management LP has cut its stake in Arthur J. Gallagher & Co. by 94.6%, selling 82,090 shares and now holding only 4,641 shares valued at $1,602,000.
• Other institutional investors, such as Ameriprise Financial and D. E. Shaw & Co., have significantly increased their positions in the company, indicating strong interest from the investment community.
• Analysts have mixed views on the stock, with recent ratings ranging from "strong buy" to "neutral," and an average price target of $333.13, reflecting varied expectations for its future performance.

Cinctive Capital Management LP lessened its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 94.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,641 shares of the financial services provider's stock after selling 82,090 shares during the period. Cinctive Capital Management LP's holdings in Arthur J. Gallagher & Co. were worth $1,602,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in Arthur J. Gallagher & Co. by 114.7% during the fourth quarter. Ameriprise Financial Inc. now owns 204,024 shares of the financial services provider's stock valued at $57,908,000 after acquiring an additional 109,012 shares during the period. Cetera Investment Advisers increased its position in Arthur J. Gallagher & Co. by 5.7% in the 4th quarter. Cetera Investment Advisers now owns 66,111 shares of the financial services provider's stock worth $18,766,000 after buying an additional 3,584 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 21.1% during the fourth quarter. CoreCap Advisors LLC now owns 483 shares of the financial services provider's stock worth $137,000 after buying an additional 84 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Arthur J. Gallagher & Co. by 26.2% in the fourth quarter. Deutsche Bank AG now owns 490,751 shares of the financial services provider's stock worth $139,300,000 after acquiring an additional 101,860 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in Arthur J. Gallagher & Co. by 1,511.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,758,166 shares of the financial services provider's stock valued at $499,055,000 after purchasing an additional 1,649,046 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AJG. Citigroup initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $317.00 price target on the stock. The Goldman Sachs Group began coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 3rd. They set a "buy" rating and a $344.00 target price on the stock. UBS Group reduced 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 boosted their price objective 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. Finally, Piper Sandler upped 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 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $333.13.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG traded down $1.42 during mid-day trading on Tuesday, hitting $297.70. 1,113,210 shares of the company traded hands, compared to its average volume of 1,532,785. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $76.33 billion, a price-to-earnings ratio of 42.29 and a beta of 0.72. The business has a 50-day moving average of $302.40 and a 200 day moving average of $320.54. Arthur J. Gallagher & Co. has a one year low of $274.25 and a one year high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data 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%.The firm's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.29 EPS. As a group, equities analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared 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 of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.'s payout ratio is 36.93%.

Arthur J. Gallagher & Co. 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.