Arthur J. Gallagher & Co. $AJG Stake Boosted by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 16.7%, owning 238,038 shares valued at approximately $82 million after purchasing 34,014 additional shares.
• The company reported Q2 earnings of $2.33 EPS, slightly missing the consensus estimate of $2.36, and its revenue showed a 16% year-over-year increase to $3.18 billion.
• A quarterly dividend of $0.65 per share was announced, set to be paid on September 19th, with a yield of 0.9% and a payout ratio of 36.93%.

Ameriprise Financial Inc. boosted its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 238,038 shares of the financial services provider's stock after buying an additional 34,014 shares during the period. Ameriprise Financial Inc. owned about 0.09% of Arthur J. Gallagher & Co. worth $82,176,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AJG. CWA Asset Management Group LLC lifted its position in shares of Arthur J. Gallagher & Co. by 22.5% in the 1st 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 in the last quarter. Two Sigma Investments LP acquired a new stake in Arthur J. Gallagher & Co. during the 4th quarter valued at $382,000. Golden State Wealth Management LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 2,750.0% in 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 boosted its position in shares of 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 worth $3,879,000 after buying an additional 82 shares during the period. Finally, Seven Grand Managers LLC purchased a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at $7,096,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AJG shares. Wall Street Zen downgraded Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Erste Group Bank reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Wells Fargo & Company raised their price target on shares of Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Barclays dropped their price objective on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Finally, Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of "Hold" and a consensus price target of $331.07.

Arthur J. Gallagher & Co. Trading Down 1.5%

NYSE:AJG opened at $298.72 on Tuesday. The company has a market capitalization of $76.59 billion, a P/E ratio of 42.43 and a beta of 0.68. The stock's 50 day moving average price is $306.15 and its 200 day moving average price is $322.20. 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 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 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 during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. The business's revenue was up 16.0% on a year-over-year basis. On average, research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio is presently 36.93%.

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.

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