Renaissance Investment Group LLC Acquires 2,000 Shares of Arthur J. Gallagher & Co. $AJG

Renaissance Investment Group LLC boosted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,844 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the period. Arthur J. Gallagher & Co. comprises 2.0% of Renaissance Investment Group LLC’s holdings, making the stock its 23rd largest position. Renaissance Investment Group LLC’s holdings in Arthur J. Gallagher & Co. were worth $10,065,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new stake in Arthur J. Gallagher & Co. during the fourth quarter worth about $1,925,062,000. T. Rowe Price Investment Management Inc. boosted its stake in Arthur J. Gallagher & Co. by 123.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,887,538 shares of the financial services provider’s stock valued at $1,523,636,000 after acquiring an additional 3,253,498 shares during the last quarter. Gtcr LLC bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at approximately $514,112,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Arthur J. Gallagher & Co. by 9,244.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,053,636 shares of the financial services provider’s stock worth $272,670,000 after purchasing an additional 1,042,361 shares during the last quarter. Finally, Viking Global Investors LP bought a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter worth approximately $269,394,000. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AJG. Wolfe Research lowered shares of Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Cantor Fitzgerald upped their price target on shares of Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Truist Financial boosted their target price on shares of Arthur J. Gallagher & Co. from $225.00 to $265.00 and gave the company a “hold” rating in a report on Friday, July 31st. Royal Bank Of Canada increased their target price on Arthur J. Gallagher & Co. from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods raised their price target on Arthur J. Gallagher & Co. from $261.00 to $271.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.65.

Insiders Place Their Bets

In related news, CAO Richard C. Cary sold 3,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total value of $618,000.00. Following the sale, the chief accounting officer owned 47,819 shares in the company, valued at $9,850,714. The trade was a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 0.3%

Shares of Arthur J. Gallagher & Co. stock opened at $251.72 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.05 and a quick ratio of 1.06. Arthur J. Gallagher & Co. has a 1 year low of $190.75 and a 1 year high of $313.55. The firm has a market cap of $64.67 billion, a PE ratio of 41.74, a PEG ratio of 1.29 and a beta of 0.50. The company has a 50 day simple moving average of $235.35 and a two-hundred day simple moving average of $224.59.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.01 billion. Arthur J. Gallagher & Co. had a net margin of 9.96% and a return on equity of 13.28%. The business’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 EPS. Analysts expect that Arthur J. Gallagher & Co. will post 13.27 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 8th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 46.43%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company’s core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.