Generate Investment Management Ltd Boosts Stock Position in Arthur J. Gallagher & Co. $AJG

Key Points

• Generate Investment Management Ltd boosted its stake in Arthur J. Gallagher & Co. by 200% in the first quarter, buying 60,000 additional shares to bring its total to 90,000 shares worth about $19.5 million.
• Arthur J. Gallagher reported better-than-expected quarterly earnings of $4.47 per share, topping estimates, while revenue rose 29% year over year to $4.71 billion.
• The company paid a quarterly dividend of $0.70 per share and has drawn a generally positive analyst outlook, with MarketBeat showing a Moderate Buy consensus and an average target price of $264.12.

Generate Investment Management Ltd raised its holdings in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 200.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,000 shares of the financial services provider's stock after purchasing an additional 60,000 shares during the quarter. Arthur J. Gallagher & Co. accounts for 1.0% of Generate Investment Management Ltd's investment portfolio, making the stock its 25th largest position. Generate Investment Management Ltd's holdings in Arthur J. Gallagher & Co. were worth $19,492,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Arthur J. Gallagher & Co. by 10.2% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 65,889 shares of the financial services provider's stock valued at $20,398,000 after purchasing an additional 6,090 shares during the last quarter. Dearborn Partners LLC increased its position in Arthur J. Gallagher & Co. by 6.3% in the fourth quarter. Dearborn Partners LLC now owns 133,936 shares of the financial services provider's stock worth $34,661,000 after buying an additional 7,946 shares during the last quarter. Professional Advisory Services Inc. raised its stake in shares of Arthur J. Gallagher & Co. by 12.2% in the fourth quarter. Professional Advisory Services Inc. now owns 78,448 shares of the financial services provider's stock valued at $20,302,000 after buying an additional 8,539 shares during the period. Seizert Capital Partners LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $3,571,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Arthur J. Gallagher & Co. by 127.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 44,777 shares of the financial services provider's stock valued at $13,869,000 after buying an additional 25,080 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $209.15 on Tuesday. Arthur J. Gallagher & Co. has a 52-week low of $190.75 and a 52-week high of $327.34. The business's fifty day moving average is $210.45 and its 200 day moving average is $226.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $53.73 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 1.09 and a beta of 0.53.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same quarter in the previous year, the firm earned $3.67 EPS. The company's quarterly revenue was up 29.0% compared to the same quarter last year. Research analysts predict that Arthur J. Gallagher & Co. will post 13.24 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the 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 represents a 5.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a "hold (c-)" rating on shares of Arthur J. Gallagher & Co. in a report on Monday, June 15th. Truist Financial cut their target price on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a "hold" rating for the company in a research report on Friday, May 1st. Morgan Stanley reduced their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an "overweight" rating for the company in a research note on Thursday, May 21st. Jefferies Financial Group upgraded shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and upped their price target for the company from $235.00 to $265.00 in a research note on Thursday, June 11th. Finally, Mizuho cut their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $259.00 and set an "outperform" rating for the company in a report on Monday, April 13th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $264.12.

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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