5,845 Shares in Arthur J. Gallagher & Co. $AJG Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association acquired 5,845 shares of Arthur J. Gallagher & Co. for approximately $1.99 million in the first quarter, contributing to a total institutional ownership of 85.53%.
• Analysts have mixed ratings on AJG, with the current consensus being a "Hold" rating and an average price target of $333.13, reflecting recent adjustments in target prices by various firms.
• Arthur J. Gallagher & Co. announced a quarterly dividend of $0.65 per share, translating to an annualized yield of 0.9%, with a dividend payout ratio of 36.93%.

United Services Automobile Association bought a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 5,845 shares of the financial services provider's stock, valued at approximately $1,992,000.

A number of other hedge funds also recently bought and sold shares of AJG. CWA Asset Management Group LLC increased its position in Arthur J. Gallagher & Co. by 22.5% during the first quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock worth $388,000 after buying an additional 207 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $382,000. Golden State Wealth Management LLC boosted its position in Arthur J. Gallagher & Co. by 2,750.0% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after purchasing an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Arthur J. Gallagher & Co. by 0.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,280 shares of the financial services provider's stock worth $3,879,000 after purchasing an additional 82 shares in the last quarter. Finally, Seven Grand Managers LLC purchased a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth $7,096,000. Institutional investors and hedge funds own 85.53% of the company's stock.

Analyst Upgrades and Downgrades

AJG has been the subject of several analyst reports. UBS Group dropped their target price on Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Barclays lowered 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 note on Monday, July 7th. Wells Fargo & Company increased 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. Keefe, Bruyette & Woods raised their price objective 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. Finally, Citigroup began coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, August 13th. They set a "neutral" rating and a $317.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $333.13.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG stock opened at $299.01 on Monday. The stock's fifty day simple moving average is $302.82 and its 200-day simple moving average is $320.72. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. Arthur J. Gallagher & Co. has a 1-year low of $274.25 and a 1-year high of $351.23. The company has a market capitalization of $76.67 billion, a price-to-earnings ratio of 42.47 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly 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). 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 for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter last year, the company posted $2.29 EPS. The business's revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.65 dividend. 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 is presently 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.

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