Korea Investment CORP Grows Stake in Arthur J. Gallagher & Co. $AJG

Key Points

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Korea Investment CORP lifted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 13.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,087 shares of the financial services provider's stock after buying an additional 17,037 shares during the period. Korea Investment CORP owned approximately 0.06% of Arthur J. Gallagher & Co. worth $49,745,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Checchi Capital Advisers LLC boosted its position in shares of Arthur J. Gallagher & Co. by 1.1% during the first quarter. Checchi Capital Advisers LLC now owns 2,899 shares of the financial services provider's stock valued at $1,001,000 after buying an additional 31 shares during the last quarter. Menard Financial Group LLC boosted its position in shares of Arthur J. Gallagher & Co. by 0.8% during the first quarter. Menard Financial Group LLC now owns 3,812 shares of the financial services provider's stock valued at $1,289,000 after buying an additional 32 shares during the last quarter. Allen Capital Group LLC boosted its position in shares of Arthur J. Gallagher & Co. by 2.1% during the first quarter. Allen Capital Group LLC now owns 1,603 shares of the financial services provider's stock valued at $553,000 after buying an additional 33 shares during the last quarter. City Holding Co. boosted its position in shares of Arthur J. Gallagher & Co. by 3.1% during the first quarter. City Holding Co. now owns 1,140 shares of the financial services provider's stock valued at $394,000 after buying an additional 34 shares during the last quarter. Finally, CVA Family Office LLC boosted its position in shares of Arthur J. Gallagher & Co. by 34.3% during the first quarter. CVA Family Office LLC now owns 133 shares of the financial services provider's stock valued at $46,000 after buying an additional 34 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG traded down $2.5550 during trading on Friday, hitting $302.8250. The company had a trading volume of 1,165,433 shares, compared to its average volume of 1,790,757. The stock has a 50 day simple moving average of $306.50 and a 200 day simple moving average of $322.31. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. Arthur J. Gallagher & Co. has a 12 month low of $274.25 and a 12 month high of $351.23. The firm has a market capitalization of $77.64 billion, a P/E ratio of 43.01 and a beta of 0.68.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted 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). 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 during the quarter, compared to the consensus estimate of $3.20 billion. During the same period last year, the business earned $2.29 EPS. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. As a group, analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share 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 paid a $0.65 dividend. 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%.

Analysts Set New Price Targets

AJG has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Erste Group Bank reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Cantor Fitzgerald raised Arthur J. Gallagher & Co. to a "strong-buy" rating in a report on Wednesday, August 13th. Wall Street Zen downgraded Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Keefe, Bruyette & Woods increased their target price on 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 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of "Hold" and an average price target of $331.07.

About Arthur J. Gallagher & Co.

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.