OneAscent Financial Services LLC Invests $818,000 in Arthur J. Gallagher & Co. (NYSE:AJG)

OneAscent Financial Services LLC acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the third quarter, Holdings Channel.com reports. The fund acquired 2,907 shares of the financial services provider’s stock, valued at approximately $818,000.

Other hedge funds have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its stake in Arthur J. Gallagher & Co. by 15.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock valued at $30,450,000 after acquiring an additional 14,860 shares during the last quarter. MQS Management LLC bought a new position in Arthur J. Gallagher & Co. in the third quarter valued at approximately $749,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Arthur J. Gallagher & Co. by 29.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 161,028 shares of the financial services provider’s stock valued at $41,756,000 after acquiring an additional 37,070 shares during the last quarter. Swedbank AB bought a new stake in shares of Arthur J. Gallagher & Co. during the first quarter worth $3,297,000. Finally, Marsico Capital Management LLC grew its stake in shares of Arthur J. Gallagher & Co. by 316.9% during the second quarter. Marsico Capital Management LLC now owns 11,447 shares of the financial services provider’s stock worth $2,968,000 after buying an additional 8,701 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, September 13th. The shares were sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the sale, the president now directly owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. The trade was a 17.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,900 shares of company stock valued at $6,892,280. Corporate insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

AJG stock opened at $293.53 on Tuesday. The firm has a market cap of $64.40 billion, a price-to-earnings ratio of 55.91, a PEG ratio of 2.51 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $301.04. The company’s fifty day simple moving average is $288.38 and its 200 day simple moving average is $275.60.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.26. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Arthur J. Gallagher & Co.’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 earnings per share. On average, analysts expect that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is currently 45.71%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Piper Sandler boosted their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. BMO Capital Markets boosted their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods lifted their price target on shares of Arthur J. Gallagher & Co. from $241.00 to $252.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $289.14.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.