Arthur J. Gallagher & Co.

(New York Stock Exchange)
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Somewhat Bullish +42

Fisher Funds Management LTD Increases Stake in Arthur J. Gallagher & Co. $AJG - MarketBeat

AI-generated analysis

πŸ“ˆ Fisher Funds Management Ltd increased its stake in AJG by 50.3% in Q1, buying 69,379 shares to hold a total of 207,219 shares worth roughly $44.9 million.

πŸ’° The company reported EPS of $4.47, beating the consensus estimate of $4.43 for the latest quarter.

πŸ“Š Revenue grew 29% year over year to reach $4.71 billion during the reporting period.

πŸ’΅ A quarterly dividend of $0.70 per share was paid on June 19th to stockholders of record from June 5th.

🏦 Institutional ownership stands at 85.53%, with Fisher Funds making AJG its 22nd largest position.

πŸ“‰ CAO Richard C. Cary sold 3,000 shares in a transaction valued at $618,000 on June 2nd.

πŸ“‰ Piper Sandler cut its price target from $226.00 to $211.00 and assigned a 'neutral' rating.

πŸ“ˆ BMO Capital Markets upgraded the stock to 'outperform' and raised its price objective to $278.00.

🎯 The consensus analyst rating is 'Moderate Buy' with an average price target of $264.12.

πŸ“‰ Truist Financial decreased its target price from $235.00 to $225.00 and maintained a 'hold' rating.

πŸ“ˆ Wells Fargo & Company lowered its price objective to $266.00 while maintaining an 'overweight' rating.

🏒 AJG operates as a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois.

Bullish Signals
  • Fisher Funds Management Ltd significantly increased its position by 50.3% in Q1, adding 69,379 shares to a total holding of 207,219 shares valued at approximately $44.9 million.
  • The company delivered better-than-expected earnings with EPS of $4.47 versus the estimated $4.43.
  • Revenue expanded robustly by 29% year over year to reach $4.71 billion, indicating strong business growth.
  • The firm paid a quarterly dividend of $0.70 per share, representing an annualized yield of 1.3% and a payout ratio of 45.31%.
  • BMO Capital Markets upgraded the stock from 'market perform' to 'outperform' and increased its price target to $278.00.
  • Keefe, Bruyette & Woods raised its price target from $235.00 to $242.00, signaling continued analyst interest in the stock.
Risk Factors
  • Piper Sandler reduced its price target from $226.00 to $211.00 and downgraded the rating to 'neutral'.
  • Truist Financial lowered its price target from $235.00 to $225.00 and assigned a 'hold' rating.
  • Wells Fargo & Company decreased its price objective from $273.00 to $266.00, though maintaining an 'overweight' stance.
  • CAO Richard C. Cary sold 3,000 shares worth $618,000, reducing his personal position by 5.9%.
Full Analysis
Fisher Funds Management Ltd significantly increased its stake in Arthur J. Gallagher & Co. (AJG) by 50.3% during the first quarter, purchasing an additional 69,379 shares to bring its total holding to 207,219 shares valued at approximately $44.9 million. This move represents a notable accumulation by an institutional investor, with AJG now accounting for about 1.3% of Fisher Funds' portfolio and ranking as its 22nd largest position. The company recently reported better-than-expected financial results for the latest quarter, posting earnings per share of $4.47 against analyst estimates of $4.43. Revenue surged 29% year over year to reach $4.71 billion, demonstrating strong top-line growth. Additionally, the firm paid a quarterly dividend of $0.70 per share to stockholders of record on June 5th, reflecting a commitment to returning capital to investors. Wall Street sentiment remains mixed but generally positive regarding AJG's fundamentals. While some analysts like Piper Sandler and Truist Financial have lowered their price targets or maintained neutral ratings, others such as BMO Capital Markets and Keefe, Bruyette & Woods have upgraded the stock or raised their price objectives. The consensus rating is currently a 'Moderate Buy' with an average price target of $264.12.