ING Groep NV Grows Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

ING Groep NV boosted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 0.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,827 shares of the financial services provider’s stock after buying an additional 70 shares during the quarter. ING Groep NV’s holdings in Arthur J. Gallagher & Co. were worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NEXT Financial Group Inc grew its position in shares of Arthur J. Gallagher & Co. by 410.3% in the fourth quarter. NEXT Financial Group Inc now owns 199 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 160 shares in the last quarter. Childress Capital Advisors LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at $26,000. Piscataqua Savings Bank purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at $32,000. Finally, Allworth Financial LP purchased a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at $34,000. Institutional investors own 79.06% of the company’s stock.

Several brokerages have recently weighed in on AJG. Deutsche Bank Aktiengesellschaft lifted their price target on Arthur J. Gallagher & Co. from $145.00 to $160.00 and gave the company a “hold” rating in a research report on Tuesday, May 18th. Bank of America started coverage on Arthur J. Gallagher & Co. in a research note on Friday, May 21st. They set an “underperform” rating and a $133.00 price objective for the company. Morgan Stanley lifted their price objective on Arthur J. Gallagher & Co. from $135.00 to $147.00 and gave the company an “equal weight” rating in a research note on Thursday, May 27th. Truist Securities lifted their price objective on Arthur J. Gallagher & Co. from $143.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Finally, Royal Bank of Canada lifted their price objective on Arthur J. Gallagher & Co. from $124.00 to $142.00 and gave the company a “sector perform” rating in a research note on Friday, April 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $140.13.

NYSE AJG opened at $144.33 on Friday. Arthur J. Gallagher & Co. has a 1-year low of $92.49 and a 1-year high of $154.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a 50-day moving average of $141.08. The company has a market cap of $29.77 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 3.70 and a beta of 0.70.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Wednesday, April 28th. The financial services provider reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. Arthur J. Gallagher & Co. had a return on equity of 15.89% and a net margin of 11.70%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $1.92 billion. On average, sell-side analysts anticipate that Arthur J. Gallagher & Co. will post 5.02 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 18th. Investors of record on Friday, June 4th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, June 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.33%. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 40.68%.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services in the United States, Australia, Bermuda, Canada, the Caribbean, New Zealand, India, and the United Kingdom. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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