Ibex Wealth Advisors Invests $1.16 Million in Arthur J. Gallagher & Co. (NYSE:AJG)

Ibex Wealth Advisors acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,097 shares of the financial services provider's stock, valued at approximately $1,163,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AJG. Creative Planning raised its stake in Arthur J. Gallagher & Co. by 5.1% during the 2nd quarter. Creative Planning now owns 57,116 shares of the financial services provider's stock valued at $14,811,000 after buying an additional 2,782 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Arthur J. Gallagher & Co. by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,421 shares of the financial services provider's stock worth $2,183,000 after purchasing an additional 586 shares in the last quarter. Quarry LP purchased a new stake in shares of Arthur J. Gallagher & Co. in the 2nd quarter worth $29,000. Regal Investment Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. by 11.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 1,405 shares of the financial services provider's stock worth $364,000 after purchasing an additional 143 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its stake in shares of Arthur J. Gallagher & Co. by 21.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,122 shares of the financial services provider's stock worth $291,000 after purchasing an additional 197 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on AJG. Piper Sandler upgraded Arthur J. Gallagher & Co. from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the company an "overweight" rating in a report on Tuesday, December 10th. Jefferies Financial Group increased their price objective on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. The Goldman Sachs Group lowered shares of Arthur J. Gallagher & Co. from a "buy" rating to a "neutral" rating and set a $313.00 price objective on the stock. in a research report on Monday, November 25th. Finally, TD Cowen raised shares of Arthur J. Gallagher & Co. from a "hold" rating to a "buy" rating and increased their price objective for the stock from $295.00 to $377.00 in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of "Hold" and an average price target of $304.07.

Arthur J. Gallagher & Co. Stock Performance

Shares of NYSE:AJG traded up $4.96 on Thursday, hitting $299.06. 1,641,600 shares of the company were exchanged, compared to its average volume of 1,926,883. Arthur J. Gallagher & Co. has a 1-year low of $227.43 and a 1-year high of $316.72. The stock's 50 day moving average price is $291.78 and its 200 day moving average price is $288.38. 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 firm has a market capitalization of $74.70 billion, a P/E ratio of 56.96 and a beta of 0.76.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. Sell-side analysts predict that Arthur J. Gallagher & Co. will post 10.05 EPS for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $0.65 per share. The ex-dividend date is Friday, March 7th. This is an increase from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.87%. Arthur J. Gallagher & Co.'s payout ratio is currently 45.71%.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.