QRG Capital Management Inc. Has $2.94 Million Stock Position in Arthur J. Gallagher & Co. $AJG

Key Points

• QRG Capital Management Inc. reduced its stake in Arthur J. Gallagher & Co. by 10.7%, holding 9,174 shares valued at approximately $2.94 million as of the last SEC filing.
• Arthur J. Gallagher has received mixed ratings from analysts, with an average rating of "Hold" and a consensus target price of $328.80.
• The company recently declared a quarterly dividend of $0.65 per share, resulting in an annualized dividend yield of 0.8% and a payout ratio of 36.93%.

QRG Capital Management Inc. lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 10.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,174 shares of the financial services provider's stock after selling 1,095 shares during the quarter. QRG Capital Management Inc.'s holdings in Arthur J. Gallagher & Co. were worth $2,937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. CWA Asset Management Group LLC increased its holdings in shares of Arthur J. Gallagher & Co. by 22.5% in the first quarter. CWA Asset Management Group LLC now owns 1,125 shares of the financial services provider's stock valued at $388,000 after purchasing an additional 207 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $382,000. IFM Investors Pty Ltd increased its stake in shares of Arthur J. Gallagher & Co. by 5.7% in the 1st quarter. IFM Investors Pty Ltd now owns 43,953 shares of the financial services provider's stock valued at $15,174,000 after buying an additional 2,362 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth $58,041,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 2,750.0% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 110 shares during the period. 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 several recent research reports. Erste Group Bank reissued a "hold" rating on shares of Arthur J. Gallagher & Co. in a report on Wednesday, July 23rd. Cantor Fitzgerald raised shares of Arthur J. Gallagher & Co. to a "strong-buy" rating in a research note on Wednesday, August 13th. Wall Street Zen raised shares of Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. UBS Group lifted their target price on shares of Arthur J. Gallagher & Co. from $322.00 to $329.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Finally, Piper Sandler cut their price target on Arthur J. Gallagher & Co. from $352.00 to $340.00 and set an "overweight" rating on the stock in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $328.80.

Arthur J. Gallagher & Co. Stock Down 0.4%

Shares of NYSE AJG opened at $309.30 on Tuesday. Arthur J. Gallagher & Co. has a 52-week low of $275.56 and a 52-week high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market cap of $79.30 billion, a P/E ratio of 43.93 and a beta of 0.73. The firm has a 50 day moving average price of $297.60 and a 200 day moving average price of $316.39.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced 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 return on equity of 13.17% and a net margin of 14.54%.The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the business earned $2.29 earnings per share. The company's revenue for the quarter was up 16.0% compared to the same quarter last year. Analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is currently 36.93%.

Insider Activity

In other news, CFO Douglas K. Howell sold 8,000 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $299.54, for a total value of $2,396,320.00. Following the completion of the transaction, the chief financial officer owned 100,777 shares in the company, valued at $30,186,742.58. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott R. Hudson sold 12,855 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $297.60, for a total transaction of $3,825,648.00. Following the sale, the vice president directly owned 85,920 shares of the company's stock, valued at $25,569,792. This represents a 13.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,855 shares of company stock worth $8,916,928 in the last quarter. 1.30% of the stock is currently owned by company insiders.

About Arthur J. Gallagher & Co.

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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