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

Okabena Investment Services Inc. raised its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 204.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,601 shares of the financial services provider's stock after acquiring an additional 5,107 shares during the quarter. Okabena Investment Services Inc.'s holdings in Arthur J. Gallagher & Co. were worth $2,139,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in AJG. Janus Henderson Group PLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 180.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider's stock valued at $307,076,000 after buying an additional 790,467 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Arthur J. Gallagher & Co. by 219.6% during the 2nd 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 buying an additional 717,221 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of 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 valued at $249,237,000 after buying an additional 618,362 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Arthur J. Gallagher & Co. by 13.6% in 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 purchasing an additional 383,130 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Arthur J. Gallagher & Co. by 29,927.4% in the 3rd quarter. International Assets Investment Management LLC now owns 232,412 shares of the financial services provider's stock worth $65,394,000 after purchasing an additional 231,638 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG traded up $1.85 on Friday, reaching $304.29. 626,002 shares of the stock traded hands, compared to its average volume of 854,435. The firm has a market cap of $66.76 billion, a price-to-earnings ratio of 57.96, a P/E/G ratio of 2.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. Arthur J. Gallagher & Co. has a 12 month low of $218.63 and a 12 month high of $308.00. The stock's 50-day moving average price is $288.55 and its 200-day moving average price is $276.96.

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

Arthur J. Gallagher & Co. Dividend Announcement

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 given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is 45.71%.

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

In other news, VP Christopher E. Mead sold 2,800 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now owns 14,674 shares of the company's stock, valued at $4,211,438. This represents a 16.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Michael Robert Pesch sold 7,100 shares of the company's 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 transaction, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. This trade represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $6,892,280 over the last three months. Company insiders own 1.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. TD Cowen boosted their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the stock a "hold" rating in a report on Tuesday, August 13th. Piper Sandler boosted their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Jefferies Financial Group boosted their target price on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Bank of America boosted their target price on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an "underperform" rating in a report on Thursday, October 10th. Finally, BMO Capital Markets lifted their price target on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $289.71.

Arthur J. Gallagher & Co. 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.