Vident Advisory LLC Buys 3,845 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Vident Advisory LLC increased its holdings in Arthur J. Gallagher & Co. by 110.3%, acquiring an additional 3,845 shares, bringing their total ownership to 7,332 shares worth $2,531,000.
• Arthur J. Gallagher & Co. recently reported earnings per share of $2.33 for the quarter, missing analyst estimates of $2.36, with quarterly revenue up 16.0% year-over-year.
• The firm announced a quarterly dividend of $0.65 per share, with a dividend yield of 0.9%, to be paid to shareholders of record on September 5th.

Vident Advisory LLC grew its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 110.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,332 shares of the financial services provider's stock after purchasing an additional 3,845 shares during the period. Vident Advisory LLC's holdings in Arthur J. Gallagher & Co. were worth $2,531,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AJG. HWG Holdings LP bought a new position in Arthur J. Gallagher & Co. during the first quarter valued at about $25,000. AlphaQuest LLC bought a new position in Arthur J. Gallagher & Co. during the first quarter valued at about $33,000. Centennial Bank AR bought a new position in Arthur J. Gallagher & Co. during the first quarter valued at about $38,000. Motco boosted its stake in Arthur J. Gallagher & Co. by 700.0% during the first quarter. Motco now owns 112 shares of the financial services provider's stock valued at $39,000 after buying an additional 98 shares in the last quarter. Finally, SouthState Corp bought a new position in Arthur J. Gallagher & Co. during the first quarter valued at about $39,000. 85.53% of the stock is owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Down 1.1%

Shares of AJG traded down $3.30 during midday trading on Thursday, reaching $300.40. 1,282,348 shares of the stock were exchanged, compared to its average volume of 1,539,422. Arthur J. Gallagher & Co. has a 12-month low of $274.25 and a 12-month high of $351.23. The firm has a 50 day simple moving average of $303.56 and a 200-day simple moving average of $321.13. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.52. The company has a market cap of $77.02 billion, a price-to-earnings ratio of 42.67 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share 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 firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.20 billion. During the same period last year, the business earned $2.29 earnings per share. The firm's revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 36.93%.

Analyst Ratings Changes

Several research analysts recently weighed in on AJG shares. Citigroup started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, August 13th. They set a "neutral" rating and a $317.00 target price for the company. Keefe, Bruyette & Woods raised their target price on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Cantor Fitzgerald raised Arthur J. Gallagher & Co. to a "strong-buy" rating in a research note on Wednesday, August 13th. The Goldman Sachs Group initiated coverage on Arthur J. Gallagher & Co. in a research report on Wednesday. They issued a "buy" rating and a $344.00 price target for the company. Finally, Barclays decreased their price target 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.