George Kaiser Family Foundation Acquires Shares of 899 Arthur J. Gallagher & Co. $AJG

Key Points

• The George Kaiser Family Foundation has made a new investment of $310,000 in Arthur J. Gallagher & Co. by purchasing 899 shares, making it the foundation's 27th largest holding.
• Arthur J. Gallagher recently reported a quarterly revenue of $3.18 billion but missed EPS estimates, earning $2.33 versus the expected $2.36.
• The company has declared a quarterly dividend of $0.65 per share, representing an annualized dividend yield of 0.9%.

George Kaiser Family Foundation purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 899 shares of the financial services provider's stock, valued at approximately $310,000. Arthur J. Gallagher & Co. makes up 0.0% of George Kaiser Family Foundation's investment portfolio, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northwest & Ethical Investments L.P. lifted its stake in Arthur J. Gallagher & Co. by 206.6% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 3,066 shares of the financial services provider's stock valued at $1,057,000 after buying an additional 2,066 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in Arthur J. Gallagher & Co. by 1.2% in the 1st quarter. Raymond James Financial Inc. now owns 581,231 shares of the financial services provider's stock valued at $200,664,000 after purchasing an additional 6,679 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter worth about $9,042,000. State of New Jersey Common Pension Fund D lifted its stake in Arthur J. Gallagher & Co. by 3.6% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 83,968 shares of the financial services provider's stock worth $28,989,000 after purchasing an additional 2,941 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Arthur J. Gallagher & Co. by 1,449.1% in the 1st quarter. American Century Companies Inc. now owns 295,181 shares of the financial services provider's stock worth $101,908,000 after purchasing an additional 276,126 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Trading Up 0.9%

NYSE:AJG traded up $2.6260 on Thursday, reaching $305.2660. 1,154,564 shares of the company's stock were exchanged, compared to its average volume of 1,544,422. The firm has a market capitalization of $78.27 billion, a price-to-earnings ratio of 43.36 and a beta of 0.68. Arthur J. Gallagher & Co. has a 52-week low of $274.25 and a 52-week high of $351.23. 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 business has a fifty day moving average of $307.07 and a 200-day moving average of $322.40.

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

Arthur J. Gallagher & Co. Announces Dividend

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

Analysts Set New Price Targets

AJG has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Erste Group Bank reaffirmed a "hold" rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a research report on Wednesday, August 13th. Finally, UBS Group reduced their target price on Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating on the stock 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 given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $331.07.

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.