UniSuper Management Pty Ltd Buys 933 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• UniSuper Management Pty Ltd increased its stake in Arthur J. Gallagher & Co. by 5.5%, acquiring an additional 933 shares and bringing its total holdings to 17,831 shares valued at $6.16 million.
• The company reported a Q2 earnings per share of $2.33, missing estimates by $0.03, with revenue of $3.18 billion, which was also below expectations.
• Arthur J. Gallagher & Co. announced a quarterly dividend of $0.65, translating to an annual yield of 0.9%, with a payout ratio of 36.93%.

UniSuper Management Pty Ltd grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,831 shares of the financial services provider's stock after acquiring an additional 933 shares during the quarter. UniSuper Management Pty Ltd's holdings in Arthur J. Gallagher & Co. were worth $6,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Checchi Capital Advisers LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 1.1% during the first quarter. Checchi Capital Advisers LLC now owns 2,899 shares of the financial services provider's stock valued at $1,001,000 after acquiring an additional 31 shares in the last quarter. Menard Financial Group LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 0.8% during the first quarter. Menard Financial Group LLC now owns 3,812 shares of the financial services provider's stock valued at $1,289,000 after acquiring an additional 32 shares in the last quarter. Allen Capital Group LLC boosted its position in shares of Arthur J. Gallagher & Co. by 2.1% during the first quarter. Allen Capital Group LLC now owns 1,603 shares of the financial services provider's stock valued at $553,000 after buying an additional 33 shares during the last quarter. City Holding Co. increased its holdings in Arthur J. Gallagher & Co. by 3.1% in the 1st quarter. City Holding Co. now owns 1,140 shares of the financial services provider's stock worth $394,000 after buying an additional 34 shares in the last quarter. Finally, CVA Family Office LLC raised its position in Arthur J. Gallagher & Co. by 34.3% in the 1st quarter. CVA Family Office LLC now owns 133 shares of the financial services provider's stock worth $46,000 after buying an additional 34 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Trading Down 0.4%

Shares of NYSE:AJG opened at $299.01 on Monday. The stock has a market capitalization of $76.67 billion, a price-to-earnings ratio of 42.47 and a beta of 0.72. 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's 50-day simple moving average is $302.82 and its two-hundred day simple moving average is $320.72. Arthur J. Gallagher & Co. has a 52-week low of $274.25 and a 52-week high of $351.23.

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 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 analysts' expectations of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The company'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 posted $2.29 earnings per share. Analysts expect 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. Shareholders of record on Friday, September 5th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a 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 presently 36.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 3rd. They issued a "buy" rating and a $344.00 target price for the company. Barclays decreased their target price 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 reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods boosted their target price 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. Finally, Citigroup began coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $317.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.

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