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

OneAscent Financial Services LLC acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,907 shares of the financial services provider’s stock, valued at approximately $818,000.

A number of other large investors have also made changes to their positions in the company. OneAscent Wealth Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at $617,000. Quest Partners LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the 3rd quarter valued at $1,143,000. TrinityPoint Wealth LLC increased its holdings in Arthur J. Gallagher & Co. by 2.7% during the 3rd quarter. TrinityPoint Wealth LLC now owns 4,363 shares of the financial services provider’s stock worth $1,227,000 after purchasing an additional 115 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in Arthur J. Gallagher & Co. by 9.1% during the 3rd quarter. Gilbert & Cook Inc. now owns 5,356 shares of the financial services provider’s stock worth $1,507,000 after purchasing an additional 446 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Arthur J. Gallagher & Co. by 1.0% during the 3rd quarter. Swiss National Bank now owns 648,500 shares of the financial services provider’s stock worth $182,468,000 after purchasing an additional 6,700 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Insiders Place Their Bets

In other news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction that occurred on 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 transaction, the president now directly owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. This trade represents a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher E. Mead sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $287.00, for a total transaction of $803,600.00. Following the transaction, the vice president now directly owns 14,674 shares in the company, valued at $4,211,438. This 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 over the last three months. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AJG shares. The Goldman Sachs Group increased their target price on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. BMO Capital Markets increased their target price on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. 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 report on Friday, September 20th. Barclays began coverage on Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 target price for the company. Finally, UBS Group increased their price objective on shares of Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $289.14.

Arthur J. Gallagher & Co. Trading Down 0.4 %

Shares of NYSE:AJG opened at $293.53 on Tuesday. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The company has a market capitalization of $64.40 billion, a P/E ratio of 55.91, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. The company has a 50-day simple moving average of $288.38 and a 200 day simple moving average of $275.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the business posted $2.00 EPS. Arthur J. Gallagher & Co.’s revenue was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Arthur J. Gallagher & Co. will post 10.11 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.60 per share. The ex-dividend date 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 (DPR) is presently 45.71%.

About Arthur J. Gallagher & Co.

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.