The Vanguard Group, Inc. has recently announced that it has increased stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.30%. After grabbing 25.26 million shares, the institutional investor is now in possession of 0.32 million shares of the Financial Company. The new investment brought the stake of investor firm to 11.91% having worth around $4.73 billion. Moreover, BlackRock Fund Advisors increased its share by 0.63 million to have a control over 12.27 million shares. And Norges Bank Investment Management raised its holdings to 0.68 million shares by acquiring 7.59 million shares or 3.58% of the stake.
Arthur J. Gallagher & Co. (AJG) concluded trading on 03/15/23 at a closing price of $177.09, with 2.0 million shares of worth about $354.47 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -4.18% during that period and on Wednesday the price saw a loss of about -3.41%. Currently the company’s common shares owned by public are about 211.20M shares, out of which, 208.85M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the AJG stock and their offered price forecasts bring an average price target of $217.53. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $233.00 and could fall to a lowest price of $176.00. The stock’s current price level is 16.66% above of average price target set by the analysts, while a rise to estimated low would result in loss of -0.62% for the stock. However, touching the estimated high of $233.00 would mean a gain of 24.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 99 times over the past 12 months. They bought 263,228 shares in 49 of the transactions. In 50 selling transactions, insiders dumped 205,135 shares.
Government Pension Fund – Global, Vanguard Total Stock Market Index, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Arthur J. Gallagher & Co. Government Pension Fund – Global is currently holding 7.54 million shares of worth totaling $1.41 billion. The company recently came buying 0.68 million shares which brought its stake up to 3.56% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 52499.0 shares, after which its hold over company’s outstanding shares expand to 3.05%, leaving 6.46 million shares with the mutual fund that have a worth of about $1.21 billion. Vanguard Mid Cap Index Fund, after buying 4.91 million shares, have now control over 2.32% of the stake in the company. It holds 7912.0 shares of worth $920.72 million.
Arthur J. Gallagher & Co. (NYSE: AJG) started trading at $177.08, below -$6.27 from concluding price of the previous day. However, the stock later moved at a day high price of 179.52, or with a loss of -3.41%. Stock saw a price change of -6.29% in past 5 days and over the past one month there was a price change of -9.29%. Year-to-date (YTD), AJG shares are showing a performance of -6.07% which increased to 14.44% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $148.24 but also hit the highest price of $202.37 during that period. The average intraday trading volume for Arthur J. Gallagher & Co. shares is 784.60K. The stock is currently trading -5.18% below its 20-day simple moving average (SMA20), while that difference is down -7.30% for SMA50 and it goes to -2.51% lower than SMA200.
The Vanguard Group, Inc. acquired 25.26 million shares of Arthur J. Gallagher & Co. having value of about $4.73 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.32 million shares in the company valued at close to $57337846.02, or have control over 1.30% stake in the company. Arthur J. Gallagher & Co. (NYSE: AJG) currently have 211.20M outstanding shares and institutions hold larger chunk of about 87.20% of that. Holding of mutual funds in the company is about 33.46% while other institutional holders and individual stake holders have control over 53.46% and 3.02% of the stake respectively.
The stock has a current market capitalization of $38.11B and its 3Y-monthly beta is at 0.70. PE ratio of stock for trailing 12 months is 34.07, while it has posted earnings per share of $5.20 in the same period. Its PEG reads 3.34 and has Quick Ratio of 1.00 while making debt-to-equity ratio of 0.67. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AJG, volatility over the week remained 2.55% while standing at 1.92% over the month.
Analysts are in expectations that Arthur J. Gallagher & Co. (AJG) stock would likely to be making an EPS of $3.02 in the current quarter, while forecast for next quarter EPS is $1.95 and it is $9.97 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.84 which is $3.14 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.81 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 18.60% while it is estimated to increase by 12.74% in next year. EPS is likely to shrink at an annualized rate of 10.20% for next 5-years, compared to annual growth of 12.80% made by the stock over the past 5-years.
Analysts at 19 brokerage firms have issued recommendations for the Arthur J. Gallagher & Co. (AJG)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 19 Wall Street analysts, 13 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on January 20, 2023 offering an Outperform rating for the stock and assigned a target price of $211 to it. Coverage by Keefe Bruyette stated Arthur J. Gallagher & Co. (AJG) stock as a Mkt perform in their note to investors on January 18, 2023, suggesting a price target of $210 for the stock. On December 15, 2022, Citigroup Initiated their recommendations, while on September 21, 2022, Piper Sandler Downgrade their ratings for the stock with a price target of $195. Stock get a Buy rating from Argus on August 26, 2022.
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