What is the 13F Pro Quality Score for AJG?

13F Pro ranks Arthur J. Gallagher & Co. (AJG) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View AJG's current score at https://13fpro.ai/research/AJG (free sign-up required for the full ranking).

Which hedge funds own the most AJG stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of AJG include BlackRock,, VANGUARD CAPITAL MANAGEMENT, FMR. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/AJG as soon as new 13F filings post.

Where does 13F Pro source AJG data?

All Arthur J. Gallagher & Co. fundamentals and ownership data come directly from SEC EDGAR. Arthur J. Gallagher & Co. files with the SEC under CIK 354190. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is AJG in?

Arthur J. Gallagher & Co. (AJG) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives AJG's revenue?

Per Arthur J. Gallagher & Co.'s latest 10-Q filed with the SEC on 2026-05-07, the biggest revenue drivers are: Commissions ($3.123B, +39% YoY); Fees ($1.212B, +23% YoY); Supplemental revenues ($180M, +58% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/AJG.

What are AJG's largest expenses?

Arthur J. Gallagher & Co.'s latest 10-Q reports these as the largest expense items: Compensation ($2.516B, +33% YoY); Amortization ($278M, +32% YoY); Operating ($643M, +31% YoY). Sourced directly from SEC EDGAR filing text for Q1 2026 (quarter ended March 31, 2026).

How often is AJG research updated on 13F Pro?

AJG's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Arthur J. Gallagher & Co.(AJG)Stock Analysis

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13F Pro Quality Score

72.1/100

Rank #239 of 2,879 stocksTOP 10%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

78.7/100

Profitability

78.0/100

Balance Sheet

58.4/100

Earnings Quality

63.6/100

Free Cash Flow

71.5/100

Institutional Flow

8.5/100

Revenue Scale

90.5/100

Dilution Risk

80.8/100

AJG Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Arthur J. Gallagher & Co. (AJG), a Financials sector company. 13F Pro's AI-powered ranking engine scores AJG at 72.1/100 on a 32-signal composite quality model, placing it at rank #239 of 2,879 stocks — the top 10% of the AI-ranked universe. AJG scores in the top quartile across revenue scale (90.5), revenue growth (78.7), profitability (78.0). Areas of concern include institutional flow (8.5), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), Arthur J. Gallagher & Co. reports quarterly revenue of $4.6B, net income of $822.0M, an operating margin of 22.7%. Top institutional holders of AJG by reported 13-F value include BlackRock,, VANGUARD CAPITAL MANAGEMENT, FMR, based on the most recent SEC filings. AJG trades on the NYSE exchange and files with the SEC under CIK 354190. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate AJG daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Arthur J. Gallagher & Co. directly from SEC EDGAR. Arthur J. Gallagher & Co.'s 13F Pro composite quality score has ranged between 60 and 75 since 2021, currently 72.1 — an improving long-term trajectory across 28 quarterly and live scoring snapshots.

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Fun facts about Arthur J. Gallagher & Co.

Quirks, history, and lore behind AJG — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. financial services company · large-cap · listed on the NYSE · headquartered in the Chicago suburbs.
2
The Numbers
Annual revenue north of $10 billion, built almost entirely on commissions and fees — it earns money every time risk changes hands, not by taking the risk itself.
3
The History
Founded in 1927 by a single entrepreneur, it spent most of the 20th century as a mid-sized regional firm before an acquisition spree turned it into a global giant.
4
The Secret
It has completed hundreds of acquisitions over the years — bolt-on deals are practically a core business strategy, snapping up smaller insurance brokerages around the world like a hobby.
5
The Lore
It runs one of the largest employee benefits and risk management consulting operations on the planet, serving clients from small businesses to multinational corporations.
6
The Giveaway
Named after its founder Arthur J. Gallagher, this Rolling Meadows, Illinois insurance brokerage trades under a three-letter ticker that's basically the man's initials.

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What's Driving AJG's Business? Latest 10-Q Breakdown

✓ 44/44 datapoints verified

AI-extracted from Arthur J. Gallagher & Co.'s 10-Q filed 2026-05-07 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

AJG reported Q1 2026 total revenues of $4.758B (+28% YoY) driven by brokerage segment growth to $4.293B (+30% YoY) from acquisitions and 4% organic commission/fee growth.

Biggest Revenue Drivers

Total revenue: $4.758B+28% YoY

Commissions$3.123B+39% YoY

Contribution from acquisitions completed in twelve-month period and 4% organic growth from strong customer retention and new business generation.

Fees$1.212B+23% YoY

Includes $792M from brokerage segment (up 28% YoY) and $420M from risk management segment (up 15% YoY).

Supplemental revenues$180M+58% YoY

Organic supplemental revenues increased 16% reflecting continued renewal premium increases.

Contingent revenues$115M+24% YoY

Organic contingent revenues increased 2% year-over-year.

Interest income, premium finance revenues and other income$86M-65% YoY

Decrease primarily due to lower interest income on cash and fiduciary funds, including $143M prior-year interest from AssuredPartners acquisition financing proceeds.

Largest Expense Items

Compensation$2.516B+33% YoY

Increase primarily due to compensation associated with acquisitions ($491M), base compensation for organic growth ($66M), and acquisition earnout adjustments ($20M).

Amortization$278M+32% YoY

Increase primarily due to amortization expense of intangible assets from acquisitions completed in twelve-month period ended March 31, 2026.

Operating$643M+31% YoY

Increase primarily due to acquisition-related expenses ($115M), acquisition integration costs ($34M), technology investments ($24M).

Interest$158M0% YoY

Flat compared to prior year as debt levels remained relatively consistent.

Margins: Brokerage segment adjusted EBITDAC margin contracted 316 basis points to 40.1% primarily due to approximately $143M of interest income in Q1 2025 from AssuredPartners financing proceeds held, seasonality of AssuredPartners contribution, and roll-in of tuck-in acquisitions. Risk management segment adjusted EBITDAC margin expanded 148 basis points to 21.7% reflecting strong organic fee growth and improved leverage.

Watch Items from the Filing

Earnout obligations totaled $1.385B maximum potential payable as of March 31, 2026, with $651M recorded as liability; $140M must be settled in cash, creating future funding obligations.
AssuredPartners acquisition valuation still preliminary; expiration lists fair value adjusted downward by $222M in Q1 2026 due to customer life information; final allocation expected Q2 2026.
Interest income decline of $161M YoY ($247M Q1 2025 vs. $86M Q1 2026) due to deployment of $13.5B AssuredPartners financing proceeds; cash and money market holdings fell from $22.2B to $8.5B.
IRS micro-captive advisory investigation ongoing since 2013; criminal investigation underway with company advised it is not a target; company cooperating fully.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$4.6B

Net Income

Q1 2026

$822.0M

Free Cash Flow

Q1 2026

$957.0M

Operating Margin

Q1 2026

22.7%

ROIC

Q1 2026

2.9%

D/E Ratio

Q1 2026

0.54

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+17.8% YoY

$10.07BFY 2023

FY20 $7.00BFY21 $8.21BFY22 $8.55BFY23 $10.07B

Net Income

-12.9% YoY

$970.0MFY 2023

FY20 $818.8MFY21 $906.8MFY22 $1.11BFY23 $970.0M

EPS (Diluted)

-14.8% YoY

$4.42FY 2023

FY20 $4.20FY21 $4.37FY22 $5.19FY23 $4.42

Total Assets

+34.6% YoY

$51.62BFY 2023

FY20 $22.33BFY21 $33.34BFY22 $38.36BFY23 $51.62B

Total Debt

+30.3% YoY

$7.96BFY 2023

FY20 $4.54BFY21 $6.28BFY22 $6.11BFY23 $7.96B

Op. Cash Flow

+46.2% YoY

$2.03BFY 2023

FY20 $1.81BFY21 $1.39BFY22 $1.39BFY23 $2.03B

Metric	FY 2023	FY 2022	FY 2021	FY 2020	FY 2018	FY 2014
Revenue	$10.07B +17.8%	$8.55B +4.2%	$8.21B +17.2%	$7.00B +1.0%	$6.93B +49.9%	$4.63B
Net Income	$970.0M -12.9%	$1.11B +22.9%	$906.8M +10.7%	$818.8M +29.3%	$633.5M +108.8%	$303.4M
EPS (Diluted)	$4.42 -14.8%	$5.19 +18.8%	$4.37 +4.0%	$4.20 +23.5%	$3.40 +72.6%	$1.97
Total Assets	$51.62B +34.6%	$38.36B +15.0%	$33.34B +49.3%	$22.33B +36.7%	$16.33B +63.2%	$10.01B
Total Debt	$7.96B +30.3%	$6.11B -2.7%	$6.28B +38.3%	$4.54B +31.5%	$3.46B +52.6%	$2.27B
Operating Cash Flow	$2.03B +46.2%	$1.39B -0.2%	$1.39B -22.9%	$1.81B +136.2%	$765.1M	—

AI Insight: AJG Financial Trends

Q1 2026 revenue surged to $4,758M — up 27.7% year-over-year — while net income hit $822M, both record highs in the dataset.

• Revenue grew from $2,775M in Q2 2024 to $4,758M in Q1 2026, reflecting sustained top-line acceleration likely driven by acquisitions.

• Equity expanded sharply from $11,572M in Q2 2024 to $23,775M in Q1 2026, more than doubling over six quarters.

• Total debt jumped from $8,279M in Q2 2024 to $13,157M in Q4 2024 and has held near $13,000M through Q1 2026, elevating leverage.

• Operating cash flow turned negative at -$426M in Q2 2025 before recovering to $957M in Q1 2026 — a volatile but improving trajectory.

⚠ Net income fell to $151M in Q4 2025 — the lowest in the dataset — despite rising revenue; margin compression warrants close monitoring.

⚠ Debt remains elevated near $12,873M–$13,108M; with equity rising, debt-to-equity is improving but leverage is still substantially higher than pre-Q4 2024.

⚠ The Q2 2025 operating cash outflow of -$426M amid strong revenue signals potential working capital or integration pressures to track.

AI Insight: AJG Ratio Trends

AJG shows strong Q1 seasonality with ROIC hitting 11.4% in Q1 2026, but trailing four-quarter profitability remains compressed by a weak Q4 2025.

• Q1 seasonality is pronounced: OpMargin surged to 23.4% in Q1 2025 and 21.9% in Q1 2026, versus just 5.0% in Q4 2025.

• ROIC in Q1 2026 reached 11.4%, up from 9.9% in Q1 2025, suggesting modest year-over-year first-quarter improvement.

• Leverage has steadily declined: D/E fell from 0.72 in Q2 2024 to 0.54 in Q1 2026, strengthening the balance sheet.

• TTM OpMargin of 13.6% and ROIC of 5.6% reflect drag from Q4 2025's 5.0% OpMargin and 2.0% ROIC — the weakest in the series.

⚠ Q4 2025 OpMargin collapsed to 5.0% and ROIC to 2.0% — monitor whether this deterioration recurs in Q4 2026.

⚠ ROA and ROE on a TTM basis (2.1% and 6.8%) remain well below Q1 2026 single-quarter annualized levels; watch for sustained improvement.

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Available Research

13F Pro tracks comprehensive data for Arthur J. Gallagher & Co. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of AJG

BlackRock, Inc.
$4.2B19,307,796 sh
VANGUARD CAPITAL MANAGEMENT LLC
$3.6B16,699,898 sh
FMR LLC
$3.2B14,620,963 sh
Capital World Investors
$3.0B13,817,720 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$2.7B12,419,279 sh
STATE STREET CORP
$2.4B10,973,921 sh
DODGE & COX
$1.6B7,354,915 sh
GEODE CAPITAL MANAGEMENT, LLC
$1.4B6,243,640 sh
MORGAN STANLEY
$878.5M4,056,175 sh
PRINCIPAL FINANCIAL GROUP INC
$702.2M3,242,088 sh

Fund	Value	Shares
BlackRock, Inc.	$4.2B	19,307,796
VANGUARD CAPITAL MANAGEMENT LLC	$3.6B	16,699,898
FMR LLC	$3.2B	14,620,963
Capital World Investors	$3.0B	13,817,720
VANGUARD PORTFOLIO MANAGEMENT LLC	$2.7B	12,419,279
STATE STREET CORP	$2.4B	10,973,921
DODGE & COX	$1.6B	7,354,915
GEODE CAPITAL MANAGEMENT, LLC	$1.4B	6,243,640
MORGAN STANLEY	$878.5M	4,056,175
PRINCIPAL FINANCIAL GROUP INC	$702.2M	3,242,088

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Is AJG a good stock to buy?

13F Pro's AI-powered analysis of Arthur J. Gallagher & Co. (AJG) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for AJG are available on the AJG stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own AJG?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling AJG. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Arthur J. Gallagher & Co.'s investment landscape.