Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 16.71MM shares of Gallagher (ARTHUR J.) & Co. (AJG). This represents 7.9% of the company.
In their previous filing dated February 1, 2022 they reported 16.27MM shares and 7.80% of the company, an increase in shares of 2.70% and an increase in total ownership of 0.10% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 9.99% Upside
As of February 2, 2023, the average one-year price target for Gallagher & is $214.12. The forecasts range from a low of $145.44 to a high of $236.25. The average price target represents an increase of 9.99% from its latest reported closing price of $194.68.
The projected annual revenue for Gallagher & is $9,469MM, an increase of 14.49%. The projected annual EPS is $8.81, an increase of 69.64%.
Fund Sentiment
There are 1676 funds or institutions reporting positions in Gallagher &. This is an increase of 24 owner(s) or 1.45%.
Average portfolio weight of all funds dedicated to US:AJG is 0.4307%, an increase of 5.6372%. Total shares owned by institutions increased in the last three months by 0.86% to 204,859K shares.
What are large shareholders doing?
Capital International Investors holds 9,785,433 shares representing 4.62% ownership of the company. In it's prior filing, the firm reported owning 6,779,724 shares, representing an increase of 30.72%. The firm increased its portfolio allocation in AJG by 62.54% over the last quarter.
Jpmorgan Chase & holds 6,822,145 shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 8,235,244 shares, representing a decrease of 20.71%. The firm decreased its portfolio allocation in AJG by 10.32% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,271,335 shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 6,185,132 shares, representing an increase of 1.37%. The firm increased its portfolio allocation in AJG by 10.99% over the last quarter.
Baillie Gifford & holds 5,567,272 shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 7,136,552 shares, representing a decrease of 28.19%. The firm decreased its portfolio allocation in AJG by 67.73% over the last quarter.
Massachusetts Financial Services holds 5,534,252 shares representing 2.61% ownership of the company. In it's prior filing, the firm reported owning 5,234,199 shares, representing an increase of 5.42%. The firm increased its portfolio allocation in AJG by 20.41% over the last quarter.
Gallagher & Declares $0.55 Dividend
Gallagher & said on January 25, 2023 that its board of directors declared a regular quarterly dividend of $0.55 per share ($2.20 annualized). Shareholders of record as of March 2, 2023 will receive the payment on March 17, 2023. Previously, the company paid $0.51 per share.
At the current share price of $194.68 / share, the stock's dividend yield is 1.13%. Looking back five years and taking a sample every week, the average dividend yield has been 1.73%, the lowest has been 1.04%, and the highest has been 2.64%. The standard deviation of yields is 0.44 (n=235).
The current dividend yield is 1.35 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.42. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.22%, demonstrating that it has increased its dividend over time.
Arthur J. Gallagher & Background Information
(This description is provided by the company.)
Gallagher, a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 49 countries and offers client-service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
