Harbor ETF Trust Harbor Dividend Growth Leaders ETF (NYSE: GDIV)

Latest news for Harbor ETF Trust Harbor Dividend Growth Leaders ETF (NYSE:GDIV)

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Under normal market conditions, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in dividend-paying equity securities. The Fund invests primarily in equity securities, principally common and preferred stocks of large capitalization companies with a history of paying dividends or as determined by the Subadvisers analysis, the ability to increase dividends in the future.

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Truist Securities downgraded Arthur J. Gallagher &amp; Co. to Hold and lowered price target to $255 due to negative industry data and slowing growth.

Insurance Data Spooks Analyst Amid Industry Jitters, Arthur J. Gallagher Loses Favor

Harbor ETF Trust Harbor Dividend Growth Leaders ETF

Truist Securities&nbsp;analyst&nbsp;Mark Hughes downgraded&nbsp;Arthur J. Gallagher &amp; Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) to Hold from Buy and lowered the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/AJG/analyst-ratings" rel="noreferrer noopener">price target to $255 from $280</a>.



The re-rating is based on the recent industry data points (namely the E&amp;S state results and MarketScout survey), expected to increase the potential for a sharper downshift in the P&amp;C cycle, which would have a knock-on effect on organic growth of the company.



In particular, E&amp;S premium growth decelerated sharply in the first quarter to up 7% (from +20% in the fourth quarter), with a negative result in March (-9%), writes the analyst.



Hughes says that the slowing commercial property growth, including in Florida and Texas, appears to have led certain carriers to push for more casualty premiums at the first quarter-end.



Also, the analyst says that Federal Reserve interest rate cuts, expected to commence later this year, could be a further catalyst away from P&amp;C insurance.



Consequently, Hughes reduced the organic growth assumption by 100 bps for this year and next, slightly pulling back the margin forecast.



The analysis lowered the EPS estimates to $9.90 (from $10.03) vs. consensus of $10.14 and $10.85 (from $11.05) vs. street view of $11.35.&nbsp;



Investors can gain exposure to the stock via&nbsp;Exchange Listed Funds Trust Bancreek U.S. Large Cap ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCUS#NYSE">BCUS</a>) and&nbsp;Harbor ETF Trust Harbor Dividend Growth Leaders ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDIV#NYSE">GDIV</a>).



Price Action: AJG shares are down 1.6% at $240.22 on the last check Wednesday.



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Harbor ETF Trust Harbor Dividend Growth Leaders ETF

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Wednesday, April 10, 2024

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