OneAscent Wealth Management LLC Acquires New Shares in Arthur J. Gallagher & Co. (NYSE:AJG)

OneAscent Wealth Management LLC acquired a new position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,192 shares of the financial services provider's stock, valued at approximately $617,000.

Other institutional investors also recently modified their holdings of the company. Edgestream Partners L.P. bought a new stake in Arthur J. Gallagher & Co. during the 1st quarter valued at $2,604,000. Jacobi Capital Management LLC boosted its stake in Arthur J. Gallagher & Co. by 18.1% in the 1st quarter. Jacobi Capital Management LLC now owns 1,118 shares of the financial services provider's stock worth $279,000 after purchasing an additional 171 shares during the period. Cynosure Group LLC purchased a new position in Arthur J. Gallagher & Co. during the first quarter valued at approximately $309,000. Penobscot Investment Management Company Inc. increased its holdings in shares of Arthur J. Gallagher & Co. by 12.7% in the first quarter. Penobscot Investment Management Company Inc. now owns 5,610 shares of the financial services provider's stock worth $1,403,000 after purchasing an additional 632 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Arthur J. Gallagher & Co. by 4.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 29,149 shares of the financial services provider's stock valued at $7,288,000 after acquiring an additional 1,191 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Trading Down 0.4 %

Arthur J. Gallagher & Co. stock traded down $1.05 during midday trading on Monday, hitting $293.53. 728,124 shares of the stock were exchanged, compared to its average volume of 845,491. The stock has a market capitalization of $64.40 billion, a price-to-earnings ratio of 56.11, a PEG ratio of 2.51 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The stock's 50-day simple moving average is $288.49 and its 200 day simple moving average is $275.22.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $2.26 EPS for the quarter, meeting analysts' consensus estimates of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.78 billion. During the same period last year, the business posted $2.00 EPS. Arthur J. Gallagher & Co.'s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.82%. Arthur J. Gallagher & Co.'s payout ratio is 45.71%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Bank Of America (Bofa) upped their price objective on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the stock an "underperform" rating in a report on Friday, July 26th. TD Cowen lifted their price target on shares of Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a "hold" rating in a report on Tuesday, August 13th. UBS Group upped their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Finally, Truist Financial boosted their target price on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a "hold" rating in a report on Friday, September 20th. 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $289.14.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $284.68, for a total transaction of $1,992,760.00. Following the transaction, the chief financial officer now owns 75,963 shares in the company, valued at approximately $21,625,146.84. The trade was a 8.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock worth $6,892,280 in the last 90 days. Corporate insiders own 1.60% of the company's stock.

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.