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

OneAscent Financial Services LLC lifted its holdings in Arthur J. Gallagher & Co. (NYSE:AJG) by 22.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,787 shares of the financial services provider’s stock after buying an additional 511 shares during the period. OneAscent Financial Services LLC’s holdings in Arthur J. Gallagher & Co. were worth $697,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Beaird Harris Wealth Management LLC lifted its stake in Arthur J. Gallagher & Co. by 175.6% in the third quarter. Beaird Harris Wealth Management LLC now owns 113 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 72 shares during the last quarter. Richardson Financial Services Inc. purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $27,000. SJS Investment Consulting Inc. lifted its stake in Arthur J. Gallagher & Co. by 460.9% in the fourth quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $31,000. Finally, Ruedi Wealth Management Inc. purchased a new position in Arthur J. Gallagher & Co. in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

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

In other news, General Counsel Walter D. Bay sold 800 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $257.24, for a total transaction of $205,792.00. Following the transaction, the general counsel now directly owns 44,691 shares of the company’s stock, valued at $11,496,312.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Walter D. Bay sold 800 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $257.24, for a total transaction of $205,792.00. Following the transaction, the general counsel now directly owns 44,691 shares of the company’s stock, valued at $11,496,312.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Richard C. Cary sold 3,395 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $254.00, for a total value of $862,330.00. Following the completion of the sale, the chief accounting officer now directly owns 38,314 shares in the company, valued at $9,731,756. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,165 shares of company stock worth $13,629,049. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

AJG has been the topic of several research analyst reports. Truist Financial reiterated a “hold” rating and issued a $255.00 price objective (down previously from $280.00) on shares of Arthur J. Gallagher & Co. in a research note on Wednesday, April 10th. TD Cowen increased their target price on Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company increased their target price on Arthur J. Gallagher & Co. from $274.00 to $282.00 and gave the stock an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods restated an “underperform” rating and set a $240.00 target price on shares of Arthur J. Gallagher & Co. in a research report on Wednesday. Finally, Piper Sandler dropped their target price on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Hold” and an average price target of $263.00.

Arthur J. Gallagher & Co. Stock Down 0.3 %

AJG opened at $259.31 on Friday. The stock has a market cap of $56.66 billion, a PE ratio of 52.49, a P/E/G ratio of 2.33 and a beta of 0.72. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. Arthur J. Gallagher & Co. has a 52 week low of $210.86 and a 52 week high of $266.39. The business’s fifty day simple moving average is $251.09 and its 200 day simple moving average is $242.55.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, April 25th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.08. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Arthur J. Gallagher & Co. had a return on equity of 18.94% and a net margin of 10.27%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.03 earnings per share. As a group, research analysts expect that Arthur J. Gallagher & Co. will post 10.08 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.60 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 0.93%. Arthur J. Gallagher & Co.’s payout ratio is currently 48.58%.

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.