Arthur J. Gallagher & Co. $AJG Shares Bought by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Arthur J. Gallagher & Co. by 7.7%, acquiring an additional 54,714 shares, bringing its total ownership to 764,941 shares worth approximately $263.7 million.
• Arthur J. Gallagher & Co. recently reported a quarterly EPS of $2.33, falling short of analysts' expectations of $2.36, but showed a 16.0% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.65, with an ex-dividend date of September 5th, reflecting a dividend yield of 0.9%.

Voya Investment Management LLC grew its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 764,941 shares of the financial services provider's stock after purchasing an additional 54,714 shares during the quarter. Voya Investment Management LLC owned approximately 0.30% of Arthur J. Gallagher & Co. worth $263,695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AJG. Graham Capital Management L.P. bought a new position in Arthur J. Gallagher & Co. in the 4th quarter worth about $252,000. Jefferies Financial Group Inc. increased its stake in Arthur J. Gallagher & Co. by 473.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 5,770 shares of the financial services provider's stock worth $1,638,000 after purchasing an additional 4,764 shares during the period. OMERS ADMINISTRATION Corp increased its stake in Arthur J. Gallagher & Co. by 20.5% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 9,012 shares of the financial services provider's stock worth $2,558,000 after purchasing an additional 1,534 shares during the period. Nuveen Asset Management LLC grew its position in shares of Arthur J. Gallagher & Co. by 3.5% in the 4th quarter. Nuveen Asset Management LLC now owns 683,206 shares of the financial services provider's stock worth $193,928,000 after buying an additional 23,182 shares during the last quarter. Finally, NorthRock Partners LLC grew its position in shares of Arthur J. Gallagher & Co. by 146.5% in the 4th quarter. NorthRock Partners LLC now owns 2,046 shares of the financial services provider's stock worth $581,000 after buying an additional 1,216 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG traded up $2.10 on Tuesday, hitting $291.50. 1,175,639 shares of the company's stock traded hands, compared to its average volume of 1,528,101. 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. has a 1-year low of $274.25 and a 1-year high of $351.23. The firm's 50-day moving average price is $300.27 and its two-hundred day moving average price is $319.27. The firm has a market capitalization of $74.74 billion, a PE ratio of 41.41 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 EPS for the quarter, missing the consensus estimate 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 business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the firm posted $2.29 earnings per share. The business's revenue was up 16.0% on a year-over-year basis. As a group, analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group dropped their price target on Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Piper Sandler upped their price objective on Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Citigroup started coverage on Arthur J. Gallagher & Co. in a report on Wednesday, August 13th. They set a "neutral" rating and a $317.00 price target for the company. The Goldman Sachs Group started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 3rd. They issued a "buy" rating and a $344.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their price target on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $333.13.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In related news, VP Scott R. Hudson sold 12,855 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $297.60, for a total value of $3,825,648.00. Following the completion of the transaction, the vice president directly owned 85,920 shares in the company, valued at $25,569,792. The trade was a 13.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 3,000 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $299.78, for a total transaction of $899,340.00. Following the completion of the transaction, the chief financial officer owned 114,777 shares of the company's stock, valued at approximately $34,407,849.06. This represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

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.