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

OneAscent Financial Services LLC lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 3.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,795 shares of the financial services provider’s stock after selling 112 shares during the quarter. OneAscent Financial Services LLC’s holdings in Arthur J. Gallagher & Co. were worth $793,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Valley National Advisers Inc. purchased a new stake in shares of Arthur J. Gallagher & Co. during the fourth quarter worth approximately $25,000. MRP Capital Investments LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at approximately $28,000. New Age Alpha Advisors LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 81.7% in the 4th quarter. New Age Alpha Advisors LLC now owns 109 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Arthur J. Gallagher & Co. in the 4th quarter valued at $35,000. Finally, Financial Life Planners acquired a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter worth $36,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

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

In other news, CAO Richard C. Cary sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $322.99, for a total value of $3,229,900.00. Following the sale, the chief accounting officer now owns 69,774 shares of the company’s stock, valued at $22,536,304.26. The trade was a 12.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sherry S. Barrat sold 2,500 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $304.33, for a total transaction of $760,825.00. Following the transaction, the director now directly owns 16,533 shares of the company’s stock, valued at $5,031,487.89. This represents a 13.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,235 shares of company stock valued at $7,478,224. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wells Fargo & Company raised their price target on Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $285.00 to $315.00 in a research note on Wednesday, January 8th. Truist Financial increased their price target on shares of Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the stock a “market perform” rating in a report on Friday, March 21st. Finally, TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and upped their target price for the company from $295.00 to $377.00 in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus price target of $313.20.

Arthur J. Gallagher & Co. Trading Up 0.2 %

NYSE AJG opened at $344.42 on Thursday. Arthur J. Gallagher & Co. has a one year low of $230.08 and a one year high of $346.95. The firm has a market cap of $88.08 billion, a PE ratio of 52.83 and a beta of 0.75. The firm’s fifty day moving average is $324.69 and its two-hundred day moving average is $301.97. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.51 and a current ratio of 1.51.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. Analysts expect that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.75%. This is a positive change from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, March 7th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 39.88%.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.