Arthur J. Gallagher & Co. $AJG Stock Holdings Lowered by Kodai Capital Management LP

Key Points

• Kodai Capital Management LP sold 32,521 shares of Arthur J. Gallagher & Co., reducing its holdings by 82.7% to 6,780 shares, valued at approximately $2.34 million.
• Analysts have mixed sentiments on AJG's stock, with recommendations ranging from "Strong Buy" to "Sell," resulting in an average price target of $331.07.
• Arthur J. Gallagher & Co. announced a quarterly dividend of $0.65 per share, set to be paid on September 19th, which reflects an annual yield of 0.9%.

Kodai Capital Management LP lessened its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 82.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,780 shares of the financial services provider's stock after selling 32,521 shares during the period. Kodai Capital Management LP's holdings in Arthur J. Gallagher & Co. were worth $2,341,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. HWG Holdings LP acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at $25,000. AlphaQuest LLC acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at $33,000. Centennial Bank AR acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at $38,000. Golden State Wealth Management LLC grew its holdings 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 valued at $39,000 after purchasing an additional 110 shares in the last quarter. Finally, Motco grew its holdings in Arthur J. Gallagher & Co. by 700.0% during the 1st quarter. Motco now owns 112 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Price Performance

Shares of AJG stock traded down $0.43 during midday trading on Thursday, reaching $303.27. 277,643 shares of the company were exchanged, compared to its average volume of 1,533,199. Arthur J. Gallagher & Co. has a 12 month low of $274.25 and a 12 month high of $351.23. The company has a market cap of $77.76 billion, a P/E ratio of 43.08 and a beta of 0.72. The company's 50 day moving average price is $303.56 and its two-hundred day moving average price is $321.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given 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 payout ratio is 36.93%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. The Goldman Sachs Group started coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday. They set a "buy" rating and a $344.00 price objective for the company. Keefe, Bruyette & Woods lifted their price target 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. Wells Fargo & Company lifted their price target on shares of Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Wall Street Zen lowered shares of Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One 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's stock. According to MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and an average price target 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.