72,448 Shares in Arthur J. Gallagher & Co. $AJG Bought by Madison Asset Management LLC

Key Points

• Madison Asset Management acquired 72,448 shares of Arthur J. Gallagher & Co. worth approximately $16.6 million. Institutional investors collectively own 85.53% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $290.28; several firms recently raised their targets to between $290 and $310.
• Gallagher reported quarterly EPS of $2.84, exceeding estimates, while revenue rose 24.3% year over year. The company also declared a quarterly dividend of $0.70 per share, representing a 1.1% annualized yield.

Madison Asset Management LLC bought a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 72,448 shares of the financial services provider's stock, valued at approximately $16,632,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AJG. Kemnay Advisory Services Inc. bought a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $26,000. Axiom Investment Management LLC bought a new position in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the 1st quarter worth approximately $29,000. MV Capital Management Inc. acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter worth approximately $34,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Insiders Place Their Bets

In other news, CAO Richard C. Cary sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $206.00, for a total value of $618,000.00. Following the transaction, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Arthur J. Gallagher & Co. from $270.00 to $290.00 and gave the company an "overweight" rating in a report on Wednesday. Royal Bank Of Canada increased their price target on Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Cantor Fitzgerald boosted their price objective on Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Barclays upped their target price on Arthur J. Gallagher & Co. from $275.00 to $292.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Finally, Mizuho raised their target price on Arthur J. Gallagher & Co. from $287.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $290.28.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $257.64 on Thursday. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $313.55. The stock's 50 day moving average is $242.84 and its 200-day moving average is $224.69. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $66.03 billion, a price-to-earnings ratio of 42.73, a PEG ratio of 1.52 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.03. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business posted $2.33 EPS. Arthur J. Gallagher & Co.'s quarterly revenue was up 24.3% on a year-over-year basis. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 13.27 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.80 annualized dividend and a yield of 1.1%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 46.43%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company's core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.

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