OneAscent Investment Solutions LLC Acquires Shares of 3,435 Arthur J. Gallagher & Co. (NYSE:AJG)

OneAscent Investment Solutions LLC purchased a new position in Arthur J. Gallagher & Co. (NYSE:AJG) during the 1st quarter, Holdings Channel.com reports. The firm 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 holdings, making the stock its 9th largest position.

Several other large investors also recently bought and sold shares of AJG. HWG Holdings LP purchased a new position in Arthur J. Gallagher & Co. during the first quarter worth $25,000. Johnson Financial Group Inc. increased its holdings in Arthur J. Gallagher & Co. by 205.4% during the 4th quarter. Johnson Financial Group Inc. now owns 113 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 76 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Arthur J. Gallagher & Co. in the fourth quarter valued at about $35,000. Centennial Bank AR bought a new stake in shares of Arthur J. Gallagher & Co. in the first quarter valued at about $38,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 110 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Trading Up 1.6%

Shares of Arthur J. Gallagher & Co. stock opened at $295.23 on Thursday. The stock has a market cap of $75.70 billion, a P/E ratio of 41.94 and a beta of 0.68. The stock’s 50 day simple moving average is $309.43 and its 200-day simple moving average is $322.41. Arthur J. Gallagher & Co. has a 1-year low of $274.25 and a 1-year high of $351.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.36 and a quick ratio of 1.36.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Arthur J. Gallagher & Co. had a return on equity of 13.17% and a net margin of 14.54%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period last year, the business earned $2.29 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. Analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 36.93%.

Analysts Set New Price Targets

A number of brokerages have commented on AJG. Keefe, Bruyette & Woods boosted their target price on shares of Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. UBS Group dropped their target price on Arthur J. Gallagher & Co. from $345.00 to $322.00 and set a “neutral” rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company upped their target price on Arthur J. Gallagher & Co. from $371.00 to $373.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Barclays lowered their price objective on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an “equal weight” rating on the stock in a research report on Monday, July 7th. Finally, Piper Sandler upped their target price on Arthur J. Gallagher & Co. from $352.00 to $372.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $331.07.

Insider Buying and Selling

In related news, insider Susan E. Pietrucha sold 13,500 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $344.13, for a total transaction of $4,645,755.00. Following the completion of the transaction, the insider directly owned 11,941 shares in the company, valued at $4,109,256.33. This trade represents a 53.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David S. Johnson sold 1,000 shares of Arthur J. Gallagher & Co. stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $342.04, for a total value of $342,040.00. Following the completion of the transaction, the director owned 45,323 shares of the company’s stock, valued at $15,502,278.92. The trade was a 2.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,000 shares of company stock valued at $8,528,080. 1.60% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Company Profile

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.