OneAscent Investment Solutions LLC purchased a new position in shares of Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,435 shares of the financial services provider's stock, valued at approximately $1,186,000. Arthur J. Gallagher & Co. accounts for about 1.4% of OneAscent Investment Solutions LLC's portfolio, making the stock its 9th largest position.
Several other institutional investors and hedge funds have also added to or reduced their stakes in AJG. HWG Holdings LP bought a new stake in shares of Arthur J. Gallagher & Co. in the first quarter worth $25,000. Johnson Financial Group Inc. increased its holdings in Arthur J. Gallagher & Co. by 205.4% in the fourth quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 76 shares during the period. Parvin Asset Management LLC acquired a new stake in Arthur J. Gallagher & Co. in the fourth quarter valued at $35,000. Centennial Bank AR acquired a new stake in Arthur J. Gallagher & Co. in the first quarter valued at $38,000. Finally, Golden State Wealth Management LLC increased its holdings in Arthur J. Gallagher & Co. by 2,750.0% in the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 110 shares during the period. Institutional investors own 85.53% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on AJG shares. Wall Street Zen downgraded Arthur J. Gallagher & Co. from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Barclays decreased their price objective on shares of Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Erste Group Bank reiterated a "hold" rating on shares of Arthur J. Gallagher & Co. in a research report on Wednesday, July 23rd. UBS Group decreased their price objective on shares of Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Arthur J. Gallagher & Co. has an average rating of "Hold" and an average target price of $331.07.
Get Our Latest Analysis on AJG
Arthur J. Gallagher & Co. Stock Up 1.2%
Shares of Arthur J. Gallagher & Co. stock traded up $3.5350 during trading hours on Tuesday, reaching $298.0450. The company's stock had a trading volume of 277,900 shares, compared to its average volume of 1,541,248. Arthur J. Gallagher & Co. has a one year low of $274.25 and a one year high of $351.23. The company has a market capitalization of $76.42 billion, a P/E ratio of 42.33 and a beta of 0.68. The stock's fifty day simple moving average is $307.55 and its two-hundred day simple moving average is $322.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.36.
Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.33 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a net margin of 14.54% and a return on equity of 13.17%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period last year, the business posted $2.29 earnings per share. The firm's quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.
Arthur J. Gallagher & Co. Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.60 annualized dividend and a yield of 0.9%. Arthur J. Gallagher & Co.'s payout ratio is currently 36.93%.
Insider Buying and Selling
In other Arthur J. Gallagher & Co. news, VP Scott R. Hudson sold 10,500 shares of Arthur J. Gallagher & Co. stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $337.17, for a total value of $3,540,285.00. Following the sale, the vice president owned 91,175 shares of the company's stock, valued at approximately $30,741,474.75. The trade was a 10.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company's stock.
Arthur J. Gallagher & Co. Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Arthur J. Gallagher & Co., you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Arthur J. Gallagher & Co. wasn't on the list.
While Arthur J. Gallagher & Co. currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access