Ieq Capital LLC Increases Holdings in Arthur J. Gallagher & Co. $AJG

Key Points

• Ieq Capital LLC increased its holdings in Arthur J. Gallagher & Co. by 21.5%, acquiring a total of 27,740 shares valued at approximately $9.57 million.
• Wall Street analysts have mixed ratings on the stock, with one rating a Strong Buy, five a Buy, and others providing Hold and Sell ratings, resulting in a consensus rating of "Hold" with an average target price of $331.07.
• Arthur J. Gallagher & Co. recently declared a quarterly dividend of $0.65 per share with an annualized yield of 0.9%, set to be paid on September 19th.

Ieq Capital LLC boosted its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 21.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,740 shares of the financial services provider's stock after purchasing an additional 4,914 shares during the period. Ieq Capital LLC's holdings in Arthur J. Gallagher & Co. were worth $9,577,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. HWG Holdings LP acquired a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $25,000. AlphaQuest LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $33,000. Johnson Financial Group Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 205.4% during the 4th quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 76 shares during the period. Parvin Asset Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at approximately $35,000. Finally, Centennial Bank AR acquired a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $38,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AJG has been the subject of a number of research reports. Cantor Fitzgerald upgraded shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a research report on Wednesday, August 13th. Piper Sandler raised their price objective on shares of Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Wells Fargo & Company raised their price objective 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. Erste Group Bank reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $331.07.

Arthur J. Gallagher & Co. Trading Up 1.0%

AJG stock traded up $3.13 during midday trading on Monday, hitting $302.75. The stock had a trading volume of 1,472,419 shares, compared to its average volume of 1,479,494. The firm has a market cap of $77.62 billion, a PE ratio of 43.00 and a beta of 0.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36. Arthur J. Gallagher & Co. has a 12-month low of $274.25 and a 12-month high of $351.23. The company's 50-day moving average price is $304.74 and its 200 day moving average price is $321.51.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.20 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. The firm's quarterly revenue was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

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