Credit Agricole S A Increases Position in Arthur J. Gallagher & Co. $AJG

Key Points

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Credit Agricole S A boosted its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 830.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 341,723 shares of the financial services provider's stock after purchasing an additional 304,990 shares during the period. Credit Agricole S A owned about 0.13% of Arthur J. Gallagher & Co. worth $117,976,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. HWG Holdings LP acquired a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth $25,000. Centennial Bank AR acquired a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth $38,000. Motco grew its stake in shares of Arthur J. Gallagher & Co. by 700.0% in the first quarter. Motco now owns 112 shares of the financial services provider's stock worth $39,000 after acquiring an additional 98 shares in the last quarter. SouthState Corp acquired a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth $39,000. Finally, Johnson Financial Group Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 205.4% in the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock worth $34,000 after acquiring an additional 76 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Erste Group Bank restated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Wells Fargo & Company boosted 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 research note on Friday, August 1st. Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a research report on Wednesday, August 13th. Citigroup began coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, August 13th. They set a "neutral" rating and a $317.00 price objective for the company. Finally, 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 research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $331.07.

Arthur J. Gallagher & Co. Stock Performance

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

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

Arthur J. Gallagher & Co. Dividend Announcement

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

Arthur J. Gallagher & Co. Company 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.