OMERS ADMINISTRATION Corp Sells 1,287 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• OMERS ADMINISTRATION Corp reduced its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 14.3% in Q1, owning 7,725 shares worth approximately $2.67 million at the end of the reporting period.
• Despite a quarterly revenue increase of 16% year-over-year, Arthur J. Gallagher & Co. reported EPS of $2.33, missing estimates and prompting adjustments in analysts' price targets.
• Arthur J. Gallagher & Co. declared a quarterly dividend of $0.65 per share, with an annualized yield of 0.9%, set to be paid on September 19th.

OMERS ADMINISTRATION Corp lowered its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 14.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,725 shares of the financial services provider's stock after selling 1,287 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Arthur J. Gallagher & Co. were worth $2,667,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. HWG Holdings LP bought a new stake in shares of Arthur J. Gallagher & Co. in the 1st quarter worth approximately $25,000. AlphaQuest LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth approximately $33,000. Centennial Bank AR acquired a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth approximately $38,000. Motco raised its holdings in shares of Arthur J. Gallagher & Co. by 700.0% in the 1st quarter. Motco now owns 112 shares of the financial services provider's stock worth $39,000 after buying an additional 98 shares in the last quarter. Finally, SouthState Corp acquired a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth approximately $39,000. Institutional investors own 85.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Arthur J. Gallagher & Co. in a report on Wednesday. They issued a "buy" rating and a $344.00 target price for the company. Keefe, Bruyette & Woods increased their target price on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Cantor Fitzgerald raised Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday, August 13th. Erste Group Bank reiterated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Finally, Piper Sandler lifted their price objective on Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One investment 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. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $333.13.

Arthur J. Gallagher & Co. Trading Down 0.2%

Shares of NYSE AJG traded down $0.73 during midday trading on Thursday, hitting $302.98. The stock had a trading volume of 223,557 shares, compared to its average volume of 1,532,963. The company's 50-day simple moving average is $303.56 and its 200 day simple moving average is $321.13. The firm has a market cap of $77.68 billion, a P/E ratio of 43.05 and a beta of 0.72. Arthur J. Gallagher & Co. has a fifty-two week low of $274.25 and a fifty-two week high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its earnings results 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 firm 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 firm's quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted $2.29 earnings per share. Research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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