Quantitative Investment Management LLC Acquires New Holdings in Arthur J. Gallagher & Co. $AJG

Key Points

• Quantitative Investment Management LLC acquired 3,759 shares of Arthur J. Gallagher & Co., valued at approximately $1,297,000, signaling institutional interest in the company.
• Arthur J. Gallagher recently announced a quarterly dividend of $0.65 per share, representing a yield of 0.9%, to be paid on September 19th.
• The company reported a missed earnings estimate for the last quarter, with earnings per share of $2.33 compared to the consensus of $2.36, though revenue increased 16% year-over-year.

Quantitative Investment Management LLC acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,759 shares of the financial services provider's stock, valued at approximately $1,297,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWA Asset Management Group LLC lifted its stake in Arthur J. Gallagher & Co. by 22.5% in the 1st 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 during the last quarter. Two Sigma Investments LP acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $382,000. Golden State Wealth Management LLC increased its position in Arthur J. Gallagher & Co. by 2,750.0% in the 1st 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. Allspring Global Investments Holdings LLC increased its position in Arthur J. Gallagher & Co. by 0.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,280 shares of the financial services provider's stock valued at $3,879,000 after acquiring an additional 82 shares during the period. Finally, Seven Grand Managers LLC acquired a new position in Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $7,096,000. Institutional investors own 85.53% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AJG. Keefe, Bruyette & Woods upped their price target on shares of Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Wall Street Zen cut shares of Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Piper Sandler increased 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 report on Friday, August 1st. Erste Group Bank reiterated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Finally, Citigroup started coverage on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, August 13th. They set a "neutral" rating and a $317.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Arthur J. Gallagher & Co. has an average rating of "Hold" and an average price target of $331.07.

Arthur J. Gallagher & Co. Stock Down 0.8%

Arthur J. Gallagher & Co. stock opened at $302.8250 on Monday. Arthur J. Gallagher & Co. has a 1-year low of $274.25 and a 1-year high of $351.23. The firm has a market capitalization of $77.64 billion, a price-to-earnings ratio of 43.01 and a beta of 0.68. The firm's fifty day moving average price is $306.50 and its two-hundred day moving average price is $322.37. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released 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 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 previous year, the business earned $2.29 earnings per share. The firm's revenue for the quarter 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. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 36.93%.

Arthur J. Gallagher & Co. 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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