Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Arthur J Gallagher & Co / Equity Bottom-Up

<ul><li>Arthur J. Gallagher & Co.</li><li>reported strong fourth quarter results for 2023 with key financial metrics in line with its December IR day.</li><li>Revenue growth for the Brokerage and Risk Management segments was 20% with 8.1% organic growth, a figure that the company corrects to 9.4% controlling for accounting adjustments and large life case timing.</li></ul>

Arthur J. Gallagher & Co.reported strong fourth quarter results for 2023 with key financial metrics in line with its December IR day.Revenue growth for the Brokerage and Risk Management segments was 20% with 8.1% organic growth, a figure that the company corrects to 9.4% controlling for accounting adjustments and large life case timing.

Arthur J. Gallagher & Co.: A Story Of Strategic Expansion Through Acquiring Associated Insurance Services! - Key Drivers

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Key points
<ul>
<li>Arthur J Gallagher is a strong player in the U.S. SME broking market trading at fair value with potential upside</li>
<li>Estimated 5-year returns are 10% IRR / 1.5x MOIC, with possibility of higher returns with EBITDA growth and multiple expansion</li>
<li>Insurance brokers benefiting from firm P&amp;C pricing cycle and market conditions, providing downside protection and potential for sustained organic growth, investor focus on growth trend maintenance</li>
</ul>
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points

Arthur J Gallagher is a strong player in the U.S. SME broking market trading at fair value with potential upside
Estimated 5-year returns are 10% IRR / 1.5x MOIC, with possibility of higher returns with EBITDA growth and multiple expansion
Insurance brokers benefiting from firm P&amp;C pricing cycle and market conditions, providing downside protection and potential for sustained organic growth, investor focus on growth trend maintenance

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Arthur J Gallagher & Co (AJG) - Sunday, Nov 19, 2023

<ul><li>Arthur J.</li><li>Gallagher & Co. delivered an all-around beat in the previous quarter, delivering impressive results in various segments.</li><li>In the retail brokerage operations, the US P/C business showed strong underlying organic growth of around 8%.</li></ul>

Arthur J.Gallagher & Co. delivered an all-around beat in the previous quarter, delivering impressive results in various segments.In the retail brokerage operations, the US P/C business showed strong underlying organic growth of around 8%.

Arthur J. Gallagher & Co: Can The Acquisition of Clements Worldwide Be A Game Changer? - Major Drivers

<ul><li>This is our first report on insurance and reinsurance brokerage player, Arthur J Gallagher & Co.</li><li>The company surpassed Wall Street's revenue and earnings expectations in its latest quarterly result.</li><li>The company posted revenue and organic growth for its risk management and combined brokerage segments.</li></ul>

This is our first report on insurance and reinsurance brokerage player, Arthur J Gallagher & Co.The company surpassed Wall Street's revenue and earnings expectations in its latest quarterly result.The company posted revenue and organic growth for its risk management and combined brokerage segments.

Arthur J Gallagher & Co.: Strategic Acquisitions Pave the Way for Global Expansion! – Initiation of Coverage - Financial Forecasts

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>The S&amp;P 500 is 1% above the 4300-4325 area which we anticipated would cap upside for 2023.</li>
<li>Our view since our 5/30/23 ETF Pathfinder is that we cannot be bearish if the SPX is above 4050, and we subsequently moved that line-in-the-sand up to 4165-4200 on 6/6/23.</li>
<li>We are moving that threshold up to 4300, which is short-term support to watch; a break below it could bring selling pressure.</li>
</ul>


The S&amp;P 500 is 1% above the 4300-4325 area which we anticipated would cap upside for 2023.
Our view since our 5/30/23 ETF Pathfinder is that we cannot be bearish if the SPX is above 4050, and we subsequently moved that line-in-the-sand up to 4165-4200 on 6/6/23.
We are moving that threshold up to 4300, which is short-term support to watch; a break below it could bring selling pressure.


Consolidation Likely, But Little Reason to Be Bearish; Buys Within Biotech, Latin American Banks

United States

Arthur J. Gallagher & Co. and its subsidiaries provide insurance brokerage, risk management, employee benefit, and other related services to clients in the United States and abroad. The Company's principal activity is the negotiation and placement of insurance for its clients. Gallagher also specializes in furnishing risk management services.

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Arthur J Gallagher & Co (AJG US)

Arthur J. Gallagher & Co.: A Story Of Strategic Expansion Through Acquiring Associated Insurance Services! - Key Drivers

Arthur J. Gallagher & Co. reported strong fourth quarter results for 2023 with key financial metrics in line with its December IR day. Revenue...

Baptista Research

Arthur J Gallagher & Co (AJG) - Sunday, Nov 19, 2023

Estimated 5-year returns are 10% IRR / 1.5x MOIC, with possibility of higher returns with EBITDA growth and multiple expansion

Value Investors Club

Arthur J. Gallagher & Co: Can The Acquisition of Clements Worldwide Be A Game Changer? - Major Drivers

Arthur J. Gallagher & Co. delivered an all-around beat in the previous quarter, delivering impressive results in various segments. In the...

Baptista Research

Arthur J Gallagher & Co.: Strategic Acquisitions Pave the Way for Global Expansion! – Initiation of Coverage - Financial Forecasts

This is our first report on insurance and reinsurance brokerage player, Arthur J Gallagher & Co. The company surpassed Wall Street's revenue...

Baptista Research

Consolidation Likely, But Little Reason to Be Bearish; Buys Within Biotech, Latin American Banks

$SPX is 1% above 4300-4325 which we anticipated would cap upside for 2023. Our view since May 30 (ETF Pathfinder) is we cannot be bearish if SPX is...

Vermilion Research

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