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

Everence Capital Management Inc. increased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 69.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,640 shares of the financial services provider’s stock after buying an additional 3,120 shares during the quarter. Everence Capital Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $2,169,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AJG. W Advisors LLC grew its stake in shares of Arthur J. Gallagher & Co. by 2.4% during the 3rd quarter. W Advisors LLC now owns 1,514 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 36 shares during the period. Miracle Mile Advisors LLC boosted its position in Arthur J. Gallagher & Co. by 0.8% during the third quarter. Miracle Mile Advisors LLC now owns 4,583 shares of the financial services provider’s stock worth $1,289,000 after purchasing an additional 38 shares during the period. Covenant Partners LLC increased its stake in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Covenant Partners LLC now owns 5,326 shares of the financial services provider’s stock worth $1,499,000 after purchasing an additional 38 shares in the last quarter. Disciplined Investments LLC raised its position in shares of Arthur J. Gallagher & Co. by 0.7% in the third quarter. Disciplined Investments LLC now owns 5,849 shares of the financial services provider’s stock valued at $1,635,000 after purchasing an additional 38 shares during the period. Finally, Seelaus Asset Management LLC lifted its stake in shares of Arthur J. Gallagher & Co. by 0.7% during the 3rd quarter. Seelaus Asset Management LLC now owns 5,481 shares of the financial services provider’s stock valued at $1,542,000 after buying an additional 38 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AJG shares. Piper Sandler increased their target price on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Bank of America raised their target price 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. Royal Bank of Canada upped their price target on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. 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 for the company. in a research report on Monday, November 25th. Finally, Jefferies Financial Group increased their target price on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. has an average rating of “Hold” and a consensus price target of $296.57.

Insider Activity at Arthur J. Gallagher & Co.

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

Arthur J. Gallagher & Co. Price Performance

AJG opened at $280.40 on Friday. The stock has a market capitalization of $70.04 billion, a P/E ratio of 53.41, a PEG 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. Arthur J. Gallagher & Co. has a 12-month low of $223.43 and a 12-month high of $316.72. The stock has a 50-day moving average price of $291.84 and a 200-day moving average price of $284.75.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results 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 firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the firm posted $2.00 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. Equities analysts predict that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 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.