Kayne Anderson Rudnick Investment Management LLC Purchases 1,070 Shares of Arthur J. Gallagher & Co. $AJG

Key Points

• Kayne Anderson Rudnick Investment Management LLC significantly increased its stake in Arthur J. Gallagher & Co. by acquiring 1,070 additional shares, leading to a total ownership of 1,103 shares valued at $381,000.
• Arthur J. Gallagher & Co. reported quarterly earnings of $2.33 per share, slightly missing analyst expectations, while revenue rose to $3.18 billion, marking a 16.0% year-over-year increase.
• The company declared a quarterly dividend of $0.65 per share, with an annualized yield of 0.9%, set to be paid on September 19th.

Kayne Anderson Rudnick Investment Management LLC raised its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 3,242.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,103 shares of the financial services provider's stock after acquiring an additional 1,070 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Arthur J. Gallagher & Co. were worth $381,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. CWA Asset Management Group LLC raised its stake in shares of Arthur J. Gallagher & Co. by 22.5% during the 1st quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock worth $388,000 after purchasing an additional 207 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $382,000. Golden State Wealth Management LLC raised its stake in shares of Arthur J. Gallagher & Co. by 2,750.0% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $39,000 after purchasing an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Arthur J. Gallagher & Co. by 0.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,280 shares of the financial services provider's stock worth $3,879,000 after purchasing an additional 82 shares in the last quarter. Finally, Seven Grand Managers LLC bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $7,096,000. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Up 0.4%

AJG opened at $299.86 on Wednesday. Arthur J. Gallagher & Co. has a 1-year low of $274.25 and a 1-year high of $351.23. The stock's fifty day simple moving average is $305.82 and its 200 day simple moving average is $322.05. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The stock has a market cap of $76.88 billion, a PE ratio of 42.59 and a beta of 0.68.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted 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 business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter last year, the company posted $2.29 EPS. The firm's revenue was up 16.0% on a year-over-year basis. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AJG shares. Piper Sandler upped their price objective on 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. UBS Group dropped their price objective on Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. Barclays dropped their price objective on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Keefe, Bruyette & Woods increased their price target on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Finally, Cantor Fitzgerald upgraded Arthur J. Gallagher & Co. to a "strong-buy" rating in a research note on Wednesday, August 13th. One 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 company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price 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.

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