Louisiana State Employees Retirement System Makes New Investment in Arthur J. Gallagher & Co. $AJG

Key Points

• Louisiana State Employees Retirement System initiated a new position in Arthur J. Gallagher & Co. in the first quarter, buying 13,100 shares valued at about $2.84 million.
• Arthur J. Gallagher & Co. reported strong quarterly results, with EPS of $4.47 beating estimates and revenue rising 29% year over year to $4.71 billion.
• The stock has continued to draw institutional interest and analyst support, with 85.53% ownership by institutions and a consensus rating of Moderate Buy; the company also paid a quarterly dividend of $0.70 per share.

Louisiana State Employees Retirement System bought a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,100 shares of the financial services provider's stock, valued at approximately $2,837,000.

A number of other institutional investors have also recently bought and sold shares of AJG. Dearborn Partners LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 6.3% in the 4th quarter. Dearborn Partners LLC now owns 133,936 shares of the financial services provider's stock valued at $34,661,000 after purchasing an additional 7,946 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Arthur J. Gallagher & Co. by 10.2% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 65,889 shares of the financial services provider's stock worth $20,398,000 after purchasing an additional 6,090 shares during the period. Professional Advisory Services Inc. boosted its position in shares of Arthur J. Gallagher & Co. by 12.2% during the 4th quarter. Professional Advisory Services Inc. now owns 78,448 shares of the financial services provider's stock valued at $20,302,000 after purchasing an additional 8,539 shares in the last quarter. Seizert Capital Partners LLC bought a new position in Arthur J. Gallagher & Co. during the fourth quarter worth $3,571,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Arthur J. Gallagher & Co. by 127.3% in the third 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 acquiring an additional 25,080 shares during the period. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE:AJG opened at $226.34 on Monday. The stock has a market capitalization of $58.15 billion, a PE ratio of 36.62, a price-to-earnings-growth ratio of 1.15 and a beta of 0.53. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm's 50 day moving average price is $210.49 and its 200-day moving average price is $225.90. Arthur J. Gallagher & Co. has a twelve month low of $190.75 and a twelve month high of $323.25.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.04. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.73 billion. Arthur J. Gallagher & Co. had a return on equity of 12.83% and a net margin of 10.76%.Arthur J. Gallagher & Co.'s revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.67 earnings per share. Equities research analysts expect that Arthur J. Gallagher & Co. will post 13.23 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were given a dividend of $0.70 per share. The ex-dividend date was Friday, June 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.2%. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 45.31%.

Analyst Ratings Changes

Several analysts have recently issued reports on AJG shares. UBS Group reiterated a "buy" rating on shares of Arthur J. Gallagher & Co. in a research note on Thursday, June 18th. Truist Financial lowered their price target on shares of Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a "hold" rating on the stock in a report on Friday, May 1st. Piper Sandler reduced their target price on Arthur J. Gallagher & Co. from $226.00 to $211.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. Barclays raised their price objective on shares of Arthur J. Gallagher & Co. from $262.00 to $275.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Finally, Morgan Stanley decreased their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $240.00 and set an "overweight" rating on the stock in a research note on Thursday, May 21st. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $264.12.

Insiders Place Their Bets

In related news, CAO Richard C. Cary sold 3,000 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 47,819 shares of the company's stock, valued at approximately $9,850,714. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

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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