Raiffeisen Bank International AG Buys 960 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Key Points

• Raiffeisen Bank International AG increased its stake in Arthur J. Gallagher & Co. by 97.2% during the first quarter, acquiring an additional 960 shares, bringing its total holdings to 1,948 shares valued at approximately $664,000.
• Institutional investors currently own 85.53% of Arthur J. Gallagher & Co.'s stock, with various hedge funds adjusting their positions, including CWA Asset Management and Golden State Wealth Management.
• Arthur J. Gallagher & Co. has reported a $2.33 EPS in its latest quarterly results, missing expectations, while also announcing a quarterly dividend of $0.65 to be distributed on September 19th.

Raiffeisen Bank International AG grew its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 97.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,948 shares of the financial services provider's stock after acquiring an additional 960 shares during the period. Raiffeisen Bank International AG's holdings in Arthur J. Gallagher & Co. were worth $664,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. CWA Asset Management Group LLC grew 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 worth $388,000 after acquiring an additional 207 shares in the last quarter. Two Sigma Investments LP bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $382,000. Golden State Wealth Management LLC grew its stake 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 worth $39,000 after acquiring an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of 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 worth $3,879,000 after purchasing an additional 82 shares during the period. Finally, Seven Grand Managers LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth approximately $7,096,000. 85.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AJG. Erste Group Bank reaffirmed a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. Jefferies Financial Group lowered their price target on shares of Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company upped their price target on shares of Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the stock an "overweight" rating in a research report on Friday. Piper Sandler upped their price target 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. Finally, UBS Group decreased their target price on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of "Hold" and a consensus target price of $329.15.

Arthur J. Gallagher & Co. Trading Up 0.1%

NYSE AJG opened at $284.54 on Tuesday. The company has a fifty day simple moving average of $316.92 and a two-hundred day simple moving average of $322.97. The stock has a market cap of $72.87 billion, a P/E ratio of 40.42 and a beta of 0.68. Arthur J. Gallagher & Co. has a 12-month low of $274.25 and a 12-month high of $351.23. The company has a current ratio of 1.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.52.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the business posted $2.29 EPS. On average, analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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

Insider Transactions at Arthur J. Gallagher & Co.

In other news, VP Scott R. Hudson sold 10,500 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $337.17, for a total value of $3,540,285.00. Following the sale, the vice president owned 91,175 shares in the company, valued at $30,741,474.75. This represents a 10.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David S. Johnson sold 1,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $342.04, for a total transaction of $342,040.00. Following the sale, the director owned 45,323 shares in the company, valued at approximately $15,502,278.92. This represents a 2.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $8,528,080 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

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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