Oribel Capital Management LP Cuts Position in Arthur J. Gallagher & Co. $AJG

Key Points

• Oribel Capital Management LP reduced its holdings in Arthur J. Gallagher & Co. by 46.9%, owning 53,300 shares after selling 47,000 shares in the first quarter.
• Arthur J. Gallagher & Co. has seen various changes in hedge fund positions, with over 85.53% of the stock owned by institutional investors.
• The company recently reported quarterly earnings of $2.33 per share, missing estimates, and announced a quarterly dividend of $0.65 per share with a yield of 0.9%.

Oribel Capital Management LP reduced its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 46.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,300 shares of the financial services provider's stock after selling 47,000 shares during the quarter. Arthur J. Gallagher & Co. accounts for about 0.8% of Oribel Capital Management LP's holdings, making the stock its 21st biggest holding. Oribel Capital Management LP's holdings in Arthur J. Gallagher & Co. were worth $18,401,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AJG. JPMorgan Chase & Co. grew its stake in Arthur J. Gallagher & Co. by 38.3% during the first quarter. JPMorgan Chase & Co. now owns 17,372,745 shares of the financial services provider's stock worth $5,997,767,000 after purchasing an additional 4,815,007 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in Arthur J. Gallagher & Co. by 1,511.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,758,166 shares of the financial services provider's stock worth $499,055,000 after acquiring an additional 1,649,046 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of Arthur J. Gallagher & Co. by 53,148.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,319,505 shares of the financial services provider's stock valued at $374,541,000 after buying an additional 1,317,027 shares during the period. Ghisallo Capital Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $269,658,000. Finally, Vanguard Group Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 2.5% in the first quarter. Vanguard Group Inc. now owns 30,411,264 shares of the financial services provider's stock valued at $10,499,185,000 after buying an additional 739,130 shares during the period. Institutional investors and hedge funds own 85.53% of the company's stock.

Wall Street Analysts Forecast Growth

AJG has been the subject of several recent research reports. Piper Sandler lifted their price target 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. Cantor Fitzgerald upgraded Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday, August 13th. Wells Fargo & Company boosted their target price on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Barclays cut their target price on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. 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 objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and an average price target of $331.07.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG traded down $1.22 during midday trading on Wednesday, hitting $298.98. 1,513,520 shares of the stock traded hands, compared to its average volume of 1,704,882. Arthur J. Gallagher & Co. has a one year low of $274.25 and a one year high of $351.23. The firm has a 50-day moving average of $305.46 and a two-hundred day moving average of $321.89. The firm has a market capitalization of $76.66 billion, a P/E ratio of 42.47 and a beta of 0.68. 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 announced its 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 during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the business posted $2.29 earnings per share. Arthur J. Gallagher & Co.'s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts forecast 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 paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 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.