Nissay Asset Management Corp Japan ADV Sells 11,361 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Nissay Asset Management Corp Japan ADV has reduced its stake in Arthur J. Gallagher & Co. by 4.7%, now owning approximately 0.09% valued at $79.28 million.
• Arthur J. Gallagher & Co. reported a missed earnings estimate for the last quarter with EPS of $2.33, falling short of the consensus estimate of $2.36.
• The company declared a quarterly dividend of $0.65, effective on September 19th, representing a 0.9% dividend yield and a payout ratio of 36.93%.

Nissay Asset Management Corp Japan ADV decreased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,623 shares of the financial services provider's stock after selling 11,361 shares during the period. Nissay Asset Management Corp Japan ADV owned about 0.09% of Arthur J. Gallagher & Co. worth $79,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Arthur J. Gallagher & Co. by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 30,411,264 shares of the financial services provider's stock worth $10,499,185,000 after buying an additional 739,130 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Arthur J. Gallagher & Co. by 38.3% in the 1st quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider's stock worth $5,997,767,000 after buying an additional 4,815,007 shares in the last quarter. Wellington Management Group LLP increased its stake in Arthur J. Gallagher & Co. by 4.9% in the 1st quarter. Wellington Management Group LLP now owns 2,959,673 shares of the financial services provider's stock worth $1,021,798,000 after buying an additional 137,354 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Arthur J. Gallagher & Co. by 0.4% during the 1st quarter. Northern Trust Corp now owns 2,364,759 shares of the financial services provider's stock valued at $816,409,000 after purchasing an additional 9,458 shares during the last quarter. Finally, WCM Investment Management LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 0.3% during the 1st quarter. WCM Investment Management LLC now owns 2,336,591 shares of the financial services provider's stock valued at $796,217,000 after purchasing an additional 7,594 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Trading Down 0.4%

NYSE AJG traded down $1.21 during trading on Friday, hitting $299.01. The stock had a trading volume of 1,217,177 shares, compared to its average volume of 1,308,466. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market capitalization of $76.67 billion, a price-to-earnings ratio of 42.47 and a beta of 0.72. Arthur J. Gallagher & Co. has a one year low of $274.25 and a one year high of $351.23. The stock has a 50 day simple moving average of $302.82 and a 200 day simple moving average of $320.72.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.29 EPS. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed 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. 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 presently 36.93%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group assumed 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. Barclays dropped their price objective on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. UBS Group dropped their price objective on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a report on Friday. Finally, Citigroup started coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, August 13th. They issued a "neutral" rating and a $317.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $333.13.

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.