Capital Group Investment Management PTE. LTD. Has $4.42 Million Stake in Arthur J. Gallagher & Co. $AJG

Key Points

• Capital Group Investment Management PTE. LTD. increased its stake in Arthur J. Gallagher & Co. by 48.8% in the fourth quarter, ending with 17,071 shares valued at about $4.42 million.
• Several other institutional investors also added to or initiated positions in AJG, and institutions now own 85.53% of the company’s shares.
• Analysts remain generally positive on the stock, with a consensus rating of Moderate Buy and an average price target of $264, while the company also reported a quarterly EPS beat and declared a $0.70 dividend.

Capital Group Investment Management PTE. LTD. lifted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 48.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,071 shares of the financial services provider's stock after buying an additional 5,596 shares during the quarter. Capital Group Investment Management PTE. LTD.'s holdings in Arthur J. Gallagher & Co. were worth $4,418,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Jump Financial LLC bought a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $2,825,000. Qube Research & Technologies Ltd bought a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $3,429,000. Treasurer of the State of North Carolina boosted its stake in Arthur J. Gallagher & Co. by 5.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider's stock worth $37,924,000 after acquiring an additional 5,947 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in Arthur J. Gallagher & Co. by 2,919.2% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider's stock worth $6,398,000 after acquiring an additional 19,325 shares during the last quarter. Finally, Armistice Capital LLC bought a new position in Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $412,000. Institutional investors and hedge funds own 85.53% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial dropped their target price on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a "hold" rating on the stock in a report on Friday, May 1st. Morgan Stanley dropped their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an "overweight" rating on the stock in a report on Thursday, May 21st. Royal Bank Of Canada assumed coverage on shares of Arthur J. Gallagher & Co. in a report on Tuesday, March 17th. They set an "outperform" rating and a $260.00 target price on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Arthur J. Gallagher & Co. from $246.00 to $235.00 and set a "market perform" rating on the stock in a report on Friday, May 1st. Finally, UBS Group set a $240.00 target price on shares of Arthur J. Gallagher & Co. in a report on Thursday, May 21st. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of "Moderate Buy" and a consensus target price of $264.00.

Insider Activity

In other news, CAO Richard C. Cary sold 3,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the sale, the chief accounting officer directly 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 at the SEC website. 1.40% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG opened at $216.58 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Arthur J. Gallagher & Co. has a 12-month low of $190.75 and a 12-month high of $330.78. The company has a market capitalization of $55.64 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 1.09 and a beta of 0.52. The firm's 50 day moving average is $210.49 and its 200-day moving average is $229.29.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.43 by $0.04. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.73 billion. During the same period last year, the company earned $3.67 earnings per share. The firm's revenue was up 29.0% compared to the same quarter last year. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be issued a $0.70 dividend. The ex-dividend date is Friday, June 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.3%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 45.31%.

About Arthur J. Gallagher & Co.

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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