OneAscent Financial Services LLC Purchases New Position in Arthur J. Gallagher & Co. (NYSE:AJG)

OneAscent Financial Services LLC acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,907 shares of the financial services provider's stock, valued at approximately $818,000.

Several other institutional investors and hedge funds have also made changes to their positions in AJG. Mark Sheptoff Financial Planning LLC bought a new position in shares of Arthur J. Gallagher & Co. in the second quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Arthur J. Gallagher & Co. in the second quarter valued at approximately $26,000. Creekmur Asset Management LLC bought a new position in shares of Arthur J. Gallagher & Co. in the first quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. boosted its holdings in Arthur J. Gallagher & Co. by 89.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider's stock worth $29,000 after buying an additional 52 shares in the last quarter. Finally, Quarry LP bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth approximately $29,000. 85.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, September 13th. The shares were 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 approximately $9,853,685.40. The trade was a 17.59 % decrease in their position. The sale 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 dated Thursday, September 19th. The shares were sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the sale, the chief financial officer now owns 75,963 shares in the company, 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.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank Of America (Bofa) raised their target price on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an "underperform" rating in a report on Friday, July 26th. Barclays started coverage on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $300.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Arthur J. Gallagher & Co. from $272.00 to $286.00 in a research note on Friday, July 26th. Bank of America raised their price objective on shares of 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. Finally, Wells Fargo & Company raised their price objective on shares of 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $289.14.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG traded down $1.26 during midday trading on Tuesday, reaching $292.33. The stock had a trading volume of 692,023 shares, compared to its average volume of 844,807. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $301.04. The firm's fifty day simple moving average is $288.25 and its 200-day simple moving average is $275.98. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $64.14 billion, a P/E ratio of 55.68, a PEG ratio of 2.51 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last posted its quarterly 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 company had revenue of $2.77 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business posted $2.00 EPS. On average, equities research analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 annualized dividend and a yield of 0.82%. Arthur J. Gallagher & Co.'s dividend payout ratio is 45.71%.

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.