Capital Research Global Investors Has $400.73 Million Position in Arthur J. Gallagher & Co. $AJG

Key Points

• Capital Research Global Investors increased its stake in Arthur J. Gallagher & Co. by 0.5% in the fourth quarter, ending with 1.55 million shares valued at about $400.7 million.
• Wall Street sentiment remains constructive: the stock has a Moderate Buy consensus rating, with 11 analysts rating it Buy and a consensus price target of $264.
• Arthur J. Gallagher reported better-than-expected quarterly EPS of $4.47 and raised revenue 29% year over year, while also announcing a quarterly dividend of $0.70 per share.

Capital Research Global Investors lifted its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,548,473 shares of the financial services provider's stock after purchasing an additional 7,920 shares during the quarter. Capital Research Global Investors owned 0.60% of Arthur J. Gallagher & Co. worth $400,729,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AJG. Jump Financial LLC bought a new position in Arthur J. Gallagher & Co. in the second quarter valued at approximately $2,825,000. Qube Research & Technologies Ltd bought a new position in Arthur J. Gallagher & Co. in the second quarter valued at approximately $3,429,000. Treasurer of the State of North Carolina grew its stake in Arthur J. Gallagher & Co. by 5.3% in the second quarter. Treasurer of the State of North Carolina now owns 118,467 shares of the financial services provider's stock valued at $37,924,000 after purchasing an additional 5,947 shares in the last quarter. Peapack Gladstone Financial Corp grew its stake in Arthur J. Gallagher & Co. by 2,919.2% in the second quarter. Peapack Gladstone Financial Corp now owns 19,987 shares of the financial services provider's stock valued at $6,398,000 after purchasing an additional 19,325 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in Arthur J. Gallagher & Co. in the second quarter valued at approximately $412,000. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AJG shares. Citigroup upgraded Arthur J. Gallagher & Co. from a "neutral" rating to a "buy" rating and decreased their price target for the company from $280.00 to $250.00 in a research note on Wednesday, May 6th. UBS Group set a $240.00 price target on Arthur J. Gallagher & Co. in a research note on Thursday, May 21st. Piper Sandler decreased their price target on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. Royal Bank Of Canada started coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 17th. They issued an "outperform" rating and a $260.00 price target for the company. Finally, Wall Street Zen upgraded Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $264.00.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE AJG opened at $216.58 on Monday. The company has a current ratio of 1.06, a quick 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 stock has a 50 day moving average of $210.49 and a 200-day moving average of $229.08. The company has a market capitalization of $55.64 billion, a P/E ratio of 35.05, a P/E/G ratio of 1.09 and a beta of 0.53.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, April 30th. The financial services provider reported $4.47 EPS for the quarter, topping the consensus estimate of $4.43 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same period in the previous year, the company posted $3.67 EPS. The firm's revenue for the quarter was up 29.0% compared to the same quarter last year. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 13.27 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Insider Activity at Arthur J. Gallagher & Co.

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 stock was sold at an average price of $206.00, for a total transaction of $618,000.00. Following the completion of the transaction, the chief accounting officer directly owned 47,819 shares in the company, valued at approximately $9,850,714. The trade was a 5.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.40% of the company's stock.

Arthur J. Gallagher & Co. Profile

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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