Fifth Third Bancorp Boosts Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Fifth Third Bancorp increased its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,094 shares of the financial services provider’s stock after purchasing an additional 403 shares during the quarter. Fifth Third Bancorp’s holdings in Arthur J. Gallagher & Co. were worth $7,691,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. W Advisors LLC lifted its position in shares of Arthur J. Gallagher & Co. by 2.4% during the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock valued at $426,000 after buying an additional 36 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in Arthur J. Gallagher & Co. by 0.8% during the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock valued at $1,289,000 after purchasing an additional 38 shares in the last quarter. Covenant Partners LLC grew its position in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock valued at $1,499,000 after purchasing an additional 38 shares during the period. Disciplined Investments LLC increased its stake in shares of Arthur J. Gallagher & Co. by 0.7% during the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock worth $1,635,000 after purchasing an additional 38 shares in the last quarter. Finally, Seelaus Asset Management LLC lifted its stake in Arthur J. Gallagher & Co. by 0.7% in the 3rd quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock valued at $1,542,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $289.71 on Monday. The stock has a market cap of $72.37 billion, a price-to-earnings ratio of 55.18 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $291.74 and a 200-day simple moving average of $287.86. Arthur J. Gallagher & Co. has a 1-year low of $227.08 and a 1-year high of $316.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter last year, the firm earned $2.00 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, analysts expect that Arthur J. Gallagher & Co. will post 10.05 EPS for the current year.

Analyst Ratings Changes

AJG has been the subject of several research reports. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. Bank of America boosted their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods upgraded Arthur J. Gallagher & Co. from an “underperform” rating to a “market perform” rating and decreased their price objective for the company from $292.00 to $286.00 in a report on Friday, January 10th. BMO Capital Markets upped their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group raised their price target on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $304.07.

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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.