Okabena Investment Services Inc. Acquires 5,107 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Okabena Investment Services Inc. boosted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 204.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,601 shares of the financial services provider’s stock after buying an additional 5,107 shares during the period. Okabena Investment Services Inc.’s holdings in Arthur J. Gallagher & Co. were worth $2,139,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Janus Henderson Group PLC increased its holdings in shares of Arthur J. Gallagher & Co. by 180.6% in the first quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock valued at $307,076,000 after purchasing an additional 790,467 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Arthur J. Gallagher & Co. by 219.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,043,769 shares of the financial services provider’s stock valued at $270,660,000 after acquiring an additional 717,221 shares during the period. Principal Financial Group Inc. raised its holdings in Arthur J. Gallagher & Co. by 231.2% during the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock worth $249,237,000 after purchasing an additional 618,362 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Arthur J. Gallagher & Co. by 13.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,196,992 shares of the financial services provider’s stock worth $899,538,000 after buying an additional 383,130 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Arthur J. Gallagher & Co. by 29,927.4% in the third quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider’s stock valued at $65,394,000 after buying an additional 231,638 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Price Performance

NYSE AJG opened at $304.29 on Friday. The firm’s 50 day moving average is $288.55 and its 200-day moving average is $276.96. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $66.76 billion, a PE ratio of 57.96, a price-to-earnings-growth ratio of 2.58 and a beta of 0.72. Arthur J. Gallagher & Co. has a 12-month low of $218.63 and a 12-month high of $308.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 EPS. Equities research analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This represents a 16.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction on 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 transaction, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at approximately $21,625,146.84. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $6,892,280 in the last ninety days. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

AJG has been the topic of a number of analyst reports. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Truist Financial raised their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. BMO Capital Markets increased their price target on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. 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 research report on Friday, September 20th. Finally, Jefferies Financial Group upped their price objective on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus target price of $289.71.

About Arthur J. Gallagher & Co.

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.