American Century Companies Inc. Acquires 276,126 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

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American Century Companies Inc. raised its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 1,449.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 295,181 shares of the financial services provider's stock after buying an additional 276,126 shares during the period. American Century Companies Inc. owned about 0.12% of Arthur J. Gallagher & Co. worth $101,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. CWA Asset Management Group LLC lifted its position in shares of 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 valued at $388,000 after purchasing an additional 207 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at about $382,000. Golden State Wealth Management LLC lifted its position in shares of 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 valued at $39,000 after purchasing an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of 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 valued at $3,879,000 after purchasing an additional 82 shares in the last quarter. Finally, Seven Grand Managers LLC bought a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at about $7,096,000. 85.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AJG. Erste Group Bank reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday, August 13th. UBS Group decreased their price objective on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Keefe, Bruyette & Woods raised their price objective 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, Citigroup assumed 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 objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has an average rating of "Hold" and a consensus target price of $331.07.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG traded down $2.5550 during trading hours on Friday, hitting $302.8250. The company's stock had a trading volume of 782,956 shares, compared to its average volume of 1,539,345. The company has a market cap of $77.64 billion, a price-to-earnings ratio of 43.01 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. The business has a 50 day simple moving average of $306.77 and a two-hundred day simple moving average of $322.38. Arthur J. Gallagher & Co. has a 52-week low of $274.25 and a 52-week high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.20 billion. Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%.Arthur J. Gallagher & Co.'s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. On average, equities analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a $0.65 dividend. The ex-dividend date 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 presently 36.93%.

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.