Wellington Management Group LLP Has $1.02 Billion Position in Arthur J. Gallagher & Co. $AJG

Key Points

• Wellington Management Group LLP increased its stake in Arthur J. Gallagher & Co. by 4.9% during the first quarter, owning nearly 3 million shares valued at over $1 billion.
• Arthur J. Gallagher & Co. recently missed analysts' earnings estimates with reported EPS of $2.33, below the expected $2.36, despite a 16.0% revenue increase year-over-year.
• A quarterly dividend of $0.65 per share has been announced, reflecting an annualized payout of $2.60 and a dividend yield of 0.9%.

Wellington Management Group LLP grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 4.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,959,673 shares of the financial services provider's stock after purchasing an additional 137,354 shares during the period. Wellington Management Group LLP owned about 1.16% of Arthur J. Gallagher & Co. worth $1,021,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. CWA Asset Management Group LLC raised its holdings in Arthur J. Gallagher & Co. by 22.5% in the 1st quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock valued at $388,000 after buying an additional 207 shares during the last quarter. Two Sigma Investments LP bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $382,000. Golden State Wealth Management LLC raised its holdings in Arthur J. Gallagher & Co. by 2,750.0% in the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock valued at $39,000 after buying an additional 110 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Arthur J. Gallagher & Co. by 0.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,280 shares of the financial services provider's stock valued at $3,879,000 after buying an additional 82 shares during the last quarter. Finally, Seven Grand Managers LLC bought a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $7,096,000. Institutional investors own 85.53% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. 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. Piper Sandler raised their price target on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Citigroup began coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, August 13th. They set a "neutral" rating and a $317.00 price target for the company. Keefe, Bruyette & Woods raised their price target on shares of 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. Finally, Wall Street Zen lowered shares of Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of "Hold" and a consensus price target of $331.07.

Arthur J. Gallagher & Co. Trading Down 0.8%

Shares of AJG stock traded down $2.5550 during trading hours on Friday, hitting $302.8250. 1,165,433 shares of the company were exchanged, compared to its average volume of 1,790,757. The firm has a market cap of $77.64 billion, a P/E ratio of 43.01 and a beta of 0.68. 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 quick ratio of 1.36 and a current ratio of 1.36. The company has a 50 day simple moving average of $306.50 and a two-hundred day simple moving average of $322.31.

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 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the business earned $2.29 EPS. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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

Arthur J. Gallagher & Co. Company 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.