Arthur J. Gallagher & Co. (NYSE:AJG) Stock Position Increased by MAI Capital Management

Posted by Defense World Staff on Aug 21st, 2023

MAI Capital Management boosted its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 14.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,024 shares of the financial services provider’s stock after buying an additional 778 shares during the quarter. MAI Capital Management’s holdings in Arthur J. Gallagher & Co. were worth $1,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AJG. Norges Bank acquired a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter valued at $1,431,788,000. Geode Capital Management LLC boosted its position in shares of Arthur J. Gallagher & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,534,836 shares of the financial services provider’s stock valued at $853,932,000 after purchasing an additional 66,186 shares during the period. WCM Investment Management LLC increased its stake in Arthur J. Gallagher & Co. by 5.6% in the 4th quarter. WCM Investment Management LLC now owns 2,688,886 shares of the financial services provider’s stock worth $506,963,000 after purchasing an additional 141,783 shares in the last quarter. Boston Partners acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth about $418,715,000. Finally, Morgan Stanley lifted its stake in Arthur J. Gallagher & Co. by 40.6% during the fourth quarter. Morgan Stanley now owns 2,143,144 shares of the financial services provider’s stock valued at $404,069,000 after buying an additional 619,008 shares in the last quarter. 85.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AJG has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of Arthur J. Gallagher & Co. in a research report on Thursday. They issued a “hold” rating for the company. Evercore ISI lifted their price target on Arthur J. Gallagher & Co. from $231.00 to $233.00 in a report on Friday, June 16th. Raymond James increased their price objective on Arthur J. Gallagher & Co. from $245.00 to $255.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, August 1st. Piper Sandler lifted their target price on Arthur J. Gallagher & Co. from $215.00 to $220.00 in a research note on Friday, April 28th. Finally, Wells Fargo & Company increased their price target on shares of Arthur J. Gallagher & Co. from $233.00 to $237.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.08.

View Our Latest Stock Analysis on Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. Stock Up 0.0 %

AJG stock opened at $220.55 on Monday. The stock has a market capitalization of $47.53 billion, a price-to-earnings ratio of 42.99, a price-to-earnings-growth ratio of 2.03 and a beta of 0.70. The company has a 50-day moving average of $216.87 and a two-hundred day moving average of $204.64. Arthur J. Gallagher & Co. has a 52-week low of $167.93 and a 52-week high of $227.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.86 by $0.04. Arthur J. Gallagher & Co. had a return on equity of 18.65% and a net margin of 12.11%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the business posted $1.70 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities research analysts anticipate that Arthur J. Gallagher & Co. will post 8.75 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 15th. Shareholders of record on Friday, September 1st will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, August 31st. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 42.88%.

Insiders Place Their Bets

In related news, VP Joel D. Cavaness sold 2,750 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $204.23, for a total value of $561,632.50. Following the completion of the sale, the vice president now owns 2,023 shares in the company, valued at $413,157.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 1,000 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $216.40, for a total value of $216,400.00. Following the sale, the director now owns 46,538 shares of the company’s stock, valued at approximately $10,070,823.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Joel D. Cavaness sold 2,750 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $204.23, for a total transaction of $561,632.50. Following the transaction, the vice president now directly owns 2,023 shares of the company’s stock, valued at $413,157.29. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Company Profile

(Free Report)

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to businesses and organizations worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.