Arthur J. Gallagher & Co. (NYSE:AJG) Shares Acquired by Okabena Investment Services Inc.

Okabena Investment Services Inc. raised its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 204.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,601 shares of the financial services provider’s stock after buying an additional 5,107 shares during the period. Okabena Investment Services Inc.’s holdings in Arthur J. Gallagher & Co. were worth $2,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AJG. EP Wealth Advisors LLC purchased a new stake in Arthur J. Gallagher & Co. during the 1st quarter worth approximately $231,000. Kestra Advisory Services LLC increased its stake in shares of Arthur J. Gallagher & Co. by 212.0% in the first quarter. Kestra Advisory Services LLC now owns 47,090 shares of the financial services provider’s stock worth $11,775,000 after buying an additional 31,997 shares during the last quarter. BOKF NA raised its holdings in Arthur J. Gallagher & Co. by 2.4% in the first quarter. BOKF NA now owns 2,769 shares of the financial services provider’s stock valued at $684,000 after acquiring an additional 66 shares in the last quarter. Ascent Group LLC boosted its stake in Arthur J. Gallagher & Co. by 11.0% during the 1st quarter. Ascent Group LLC now owns 10,476 shares of the financial services provider’s stock valued at $2,619,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Arthur J. Gallagher & Co. by 180.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,228,266 shares of the financial services provider’s stock worth $307,076,000 after purchasing an additional 790,467 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Trading Up 0.6 %

Shares of AJG opened at $304.29 on Friday. The business’s 50-day moving average price is $288.55 and its 200 day moving average price is $276.96. 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 stock has a market capitalization of $66.76 billion, a P/E ratio of 57.96, a P/E/G ratio of 2.58 and a beta of 0.72. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $308.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.26. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the business earned $2.00 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. Analysts expect that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.60 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.40 annualized dividend and a dividend yield of 0.79%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bank of America increased their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Royal Bank of Canada raised their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Wells Fargo & Company increased their price target on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their price objective on Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, 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. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $289.71.

Insiders Place Their Bets

In other news, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. This trade represents a 16.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares in the company, valued at $9,853,685.40. This represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,900 shares of company stock worth $6,892,280. 1.60% of the stock is currently owned by company insiders.

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.