Northwest & Ethical Investments L.P. Boosts Stake in Arthur J. Gallagher & Co. $AJG

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Arthur J. Gallagher & Co. by 206.6% in Q1, owning 3,066 shares now valued at approximately $1.06 million.
• Wells Fargo: raised its price target for Arthur J. Gallagher & Co. to $373.00 with an "overweight" rating, while UBS Group reduced its target to $322.00 and assigned a "neutral" rating.
• The company recently declared a quarterly dividend of $0.65 per share, reflecting a 0.9% yield, with a payout ratio of 36.93%.

Northwest & Ethical Investments L.P. grew its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 206.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,066 shares of the financial services provider's stock after buying an additional 2,066 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Arthur J. Gallagher & Co. were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. HWG Holdings LP acquired a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth about $25,000. Johnson Financial Group Inc. boosted its stake 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 worth $34,000 after acquiring an additional 76 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $35,000. Centennial Bank AR purchased a new stake in shares of Arthur J. Gallagher & Co. during the 1st quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC boosted 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 acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Piper Sandler boosted their price target 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. Wall Street Zen lowered Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Erste Group Bank reaffirmed a "hold" rating on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, July 23rd. Cantor Fitzgerald raised Arthur J. Gallagher & Co. to a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, Barclays reduced their price target 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. One 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. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $331.07.

Arthur J. Gallagher & Co. Trading Down 0.8%

Shares of AJG stock traded down $2.5550 on Friday, reaching $302.8250. 1,165,433 shares of the stock were exchanged, compared to its average volume of 1,790,757. The stock has a market cap of $77.64 billion, a P/E ratio of 43.01 and a beta of 0.68. 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 firm has a 50 day moving average of $306.50 and a two-hundred day moving average of $322.31. Arthur J. Gallagher & Co. has a 1-year low of $274.25 and a 1-year high of $351.23.

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

Arthur J. Gallagher & Co. Dividend Announcement

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