Everence Capital Management Inc. Purchases 3,120 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Everence Capital Management Inc. grew its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 69.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,640 shares of the financial services provider's stock after acquiring an additional 3,120 shares during the period. Everence Capital Management Inc.'s holdings in Arthur J. Gallagher & Co. were worth $2,169,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Arthur J. Gallagher & Co. by 4.9% in the third quarter. FMR LLC now owns 12,305,478 shares of the financial services provider's stock worth $3,462,392,000 after acquiring an additional 580,134 shares during the period. State Street Corp grew its stake in Arthur J. Gallagher & Co. by 0.5% during the third quarter. State Street Corp now owns 8,932,007 shares of the financial services provider's stock valued at $2,513,199,000 after acquiring an additional 47,656 shares in the last quarter. Geode Capital Management LLC increased its holdings in Arthur J. Gallagher & Co. by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,490,728 shares of the financial services provider's stock worth $1,541,044,000 after acquiring an additional 79,429 shares during the period. Massachusetts Financial Services Co. MA lifted its stake 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 in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Arthur J. Gallagher & Co. by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 1,640,938 shares of the financial services provider's stock valued at $425,511,000 after purchasing an additional 42,841 shares in the last quarter. Institutional investors own 85.53% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AJG shares. Jefferies Financial Group lifted their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Truist Financial upped their price objective on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a "hold" rating in a research report on Friday, September 20th. Bank of America lifted their price target on Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an "underperform" rating in a research note on Thursday, October 10th. Piper Sandler raised their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Finally, BMO Capital Markets upped their target price on 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $296.57.

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

In related news, CFO Douglas K. Howell sold 7,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $284.70, for a total transaction of $1,992,900.00. Following the sale, the chief financial officer now directly owns 75,963 shares of the company's stock, valued at $21,626,666.10. This trade represents a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of the firm's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total transaction of $803,600.00. Following the sale, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Arthur J. Gallagher & Co. Stock Up 1.6 %

Arthur J. Gallagher & Co. stock traded up $4.51 on Friday, hitting $280.40. 3,729,044 shares of the stock traded hands, compared to its average volume of 3,144,922. Arthur J. Gallagher & Co. has a 1 year low of $223.43 and a 1 year high of $316.72. The firm has a market cap of $70.04 billion, a P/E ratio of 53.41, a price-to-earnings-growth ratio of 2.41 and a beta of 0.76. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The business's fifty day simple moving average is $291.78 and its 200 day simple moving average is $284.88.

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

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.60 dividend. The ex-dividend date was Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.86%. Arthur J. Gallagher & Co.'s dividend payout ratio is currently 45.71%.

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.