Allstate Corp Has $4.31 Million Stock Holdings in Arthur J. Gallagher & Co. $AJG

Key Points

• Allstate Corp increased its stake in Arthur J. Gallagher & Co. by 79.2% in the first quarter, reaching a total of $4.31 million in stock holdings.
• Arthur J. Gallagher & Co. reported earnings of $2.33 per share for the last quarter, missing the consensus estimate by $0.03, with revenues of $3.18 billion.
• The company announced a quarterly dividend of $0.65 per share, set to be paid on September 19th, representing an annualized yield of 0.9%.

Allstate Corp grew its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 79.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,484 shares of the financial services provider's stock after buying an additional 5,518 shares during the period. Allstate Corp's holdings in Arthur J. Gallagher & Co. were worth $4,310,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CWA Asset Management Group LLC grew its stake in Arthur J. Gallagher & Co. by 22.5% in the first quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock valued at $388,000 after acquiring an additional 207 shares during the period. Two Sigma Investments LP acquired a new position in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $382,000. Golden State Wealth Management LLC increased its stake in Arthur J. Gallagher & Co. by 2,750.0% during the 1st 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 lifted its stake in Arthur J. Gallagher & Co. by 0.7% in the first 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 in the last quarter. Finally, Seven Grand Managers LLC acquired a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $7,096,000. Institutional investors and hedge funds own 85.53% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AJG shares. UBS Group cut their price objective on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Erste Group Bank reaffirmed a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Piper Sandler lifted their target price on Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen downgraded Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of "Hold" and an average target price of $331.07.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $305.2660 on Friday. 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 business's 50 day moving average price is $306.77 and its two-hundred day moving average price is $322.38. The company has a market cap of $78.27 billion, a PE ratio of 43.36 and a beta of 0.68. Arthur J. Gallagher & Co. has a twelve month low of $274.25 and a twelve month high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results 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). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the firm posted $2.29 earnings per share. The business's revenue was up 16.0% compared to the same quarter last year. On average, analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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