Kestra Advisory Services LLC Sells 33,082 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Kestra Advisory Services LLC has significantly reduced its holdings in Arthur J. Gallagher & Co. by 71.8%, selling 33,082 shares to own 12,970 shares valued at approximately $4,478,000.
• Arthur J. Gallagher & Co.'s latest earnings report revealed an EPS of $2.33, missing analysts' expectations, while revenue increased by 16.0% year-over-year despite falling short of estimates.
• The company declared a quarterly dividend of $0.65 per share, with a dividend yield of 0.9%, reflecting a payout ratio of 36.93%.

Kestra Advisory Services LLC trimmed its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 71.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,970 shares of the financial services provider's stock after selling 33,082 shares during the quarter. Kestra Advisory Services LLC's holdings in Arthur J. Gallagher & Co. were worth $4,478,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of AJG. HWG Holdings LP bought a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $25,000. Johnson Financial Group Inc. increased its stake in Arthur J. Gallagher & Co. by 205.4% during the 4th 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 in the last quarter. Parvin Asset Management LLC bought a new stake in Arthur J. Gallagher & Co. during the 4th quarter worth approximately $35,000. Centennial Bank AR bought a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC increased its stake in Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after purchasing an additional 110 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AJG. Barclays reduced their price target on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Erste Group Bank reaffirmed a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Citigroup began coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, August 13th. They set a "neutral" rating and a $317.00 price target for the company. Wall Street Zen downgraded Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Keefe, Bruyette & Woods upped their price target on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $331.07.

Arthur J. Gallagher & Co. Trading Up 0.4%

NYSE AJG opened at $299.86 on Wednesday. The company has a market cap of $76.88 billion, a PE ratio of 42.59 and a beta of 0.68. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 12 month low of $274.25 and a 12 month high of $351.23. The stock has a 50 day moving average of $305.82 and a 200-day moving average of $322.05.

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 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 EPS. On average, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.60 annualized dividend and a yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 36.93%.

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.

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