CI Investments Inc. Raises Stock Holdings in Arthur J. Gallagher & Co. $AJG

CI Investments Inc. grew its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 4.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,053 shares of the financial services provider’s stock after acquiring an additional 2,250 shares during the period. CI Investments Inc.’s holdings in Arthur J. Gallagher & Co. were worth $11,707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ritholtz Wealth Management lifted its stake in Arthur J. Gallagher & Co. by 0.4% in the fourth quarter. Ritholtz Wealth Management now owns 10,061 shares of the financial services provider’s stock worth $2,604,000 after acquiring an additional 45 shares during the period. CYBER HORNET ETFs LLC raised its holdings in Arthur J. Gallagher & Co. by 7.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 634 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 46 shares in the last quarter. SC&H Financial Advisors Inc. lifted its position in shares of Arthur J. Gallagher & Co. by 5.8% in the 4th quarter. SC&H Financial Advisors Inc. now owns 862 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 47 shares during the period. Allen Capital Group LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 2.5% during the 4th quarter. Allen Capital Group LLC now owns 1,895 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 47 shares in the last quarter. Finally, Manhattan West Asset Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 0.7% during the fourth quarter. Manhattan West Asset Management LLC now owns 6,870 shares of the financial services provider’s stock valued at $1,778,000 after buying an additional 49 shares during the period. Institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on AJG shares. Wolfe Research cut Arthur J. Gallagher & Co. from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $225.00 to $276.00 in a research report on Wednesday, July 15th. Truist Financial reduced their price target on Arthur J. Gallagher & Co. from $235.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. Jefferies Financial Group raised Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their price objective for the company from $235.00 to $265.00 in a research report on Thursday, June 11th. Finally, Cantor Fitzgerald boosted their target price on shares of Arthur J. Gallagher & Co. from $285.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $280.35.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $206.00, for a total transaction of $618,000.00. Following the transaction, the chief accounting officer owned 47,819 shares in the company, valued at approximately $9,850,714. This represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.

Arthur J. Gallagher & Co. Stock Down 2.2%

Shares of Arthur J. Gallagher & Co. stock opened at $242.69 on Thursday. The company has a 50-day simple moving average of $224.47 and a two-hundred day simple moving average of $225.15. Arthur J. Gallagher & Co. has a 52-week low of $190.75 and a 52-week high of $315.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $62.35 billion, a PE ratio of 39.27, a price-to-earnings-growth ratio of 1.29 and a beta of 0.50.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.43 by $0.04. The company had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.73 billion. Arthur J. Gallagher & Co. had a net margin of 10.76% and a return on equity of 12.83%. The firm’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.67 EPS. On average, analysts anticipate that Arthur J. Gallagher & Co. will post 13.22 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, June 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.31%.

About Arthur J. Gallagher & Co.

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.