Ascent Wealth Partners LLC Boosts Stock Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Ascent Wealth Partners LLC grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 30.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,822 shares of the financial services provider's stock after purchasing an additional 5,824 shares during the quarter. Ascent Wealth Partners LLC's holdings in Arthur J. Gallagher & Co. were worth $6,984,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in Arthur J. Gallagher & Co. during the 2nd quarter worth approximately $26,000. Mark Sheptoff Financial Planning LLC acquired a new position in Arthur J. Gallagher & Co. in the 2nd quarter worth about $26,000. Creekmur Asset Management LLC acquired a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider's stock worth $29,000 after purchasing an additional 52 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Arthur J. Gallagher & Co. in the second quarter valued at about $29,000. Institutional investors and hedge funds own 85.53% of the company's stock.

Insider Transactions at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 14,674 shares in the company, valued at $4,211,438. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the sale, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the vice president now owns 14,674 shares of the company's stock, valued at approximately $4,211,438. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AJG. Jefferies Financial Group increased their price target 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 (Bofa) raised their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an "underperform" rating in a research report on Friday, July 26th. TD Cowen increased their price objective on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a "hold" rating in a report on Tuesday, August 13th. Wells Fargo & Company increased their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Finally, Bank of America increased their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an "underperform" rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $287.00.

Arthur J. Gallagher & Co. Trading Down 0.0 %

AJG stock traded down $0.12 during trading on Thursday, hitting $290.56. 852,468 shares of the company traded hands, compared to its average volume of 847,149. The company has a 50-day moving average of $288.45 and a 200-day moving average of $272.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 1 year low of $218.63 and a 1 year high of $301.04. The firm has a market capitalization of $63.75 billion, a PE ratio of 55.42, a P/E/G ratio of 2.39 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (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 business's revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the business earned $2.00 earnings per share. Analysts predict that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.'s payout ratio is 45.71%.

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.