OneAscent Wealth Management LLC Sells 599 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

OneAscent Wealth Management LLC decreased its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 27.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,593 shares of the financial services provider’s stock after selling 599 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Arthur J. Gallagher & Co. were worth $452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Kingsview Wealth Management LLC purchased a new stake in shares of Arthur J. Gallagher & Co. in the third quarter worth about $243,000. Townsquare Capital LLC raised its holdings in shares of Arthur J. Gallagher & Co. by 35.9% during the 3rd quarter. Townsquare Capital LLC now owns 8,281 shares of the financial services provider’s stock worth $2,330,000 after acquiring an additional 2,186 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Arthur J. Gallagher & Co. by 102.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 48,583 shares of the financial services provider’s stock worth $13,670,000 after acquiring an additional 24,583 shares in the last quarter. CreativeOne Wealth LLC boosted its position in shares of Arthur J. Gallagher & Co. by 11.2% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,969 shares of the financial services provider’s stock valued at $554,000 after acquiring an additional 199 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Arthur J. Gallagher & Co. by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,224 shares of the financial services provider’s stock valued at $12,162,000 after purchasing an additional 4,212 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

Arthur J. Gallagher & Co. Stock Performance

Arthur J. Gallagher & Co. stock opened at $340.59 on Friday. Arthur J. Gallagher & Co. has a fifty-two week low of $230.08 and a fifty-two week high of $345.43. The company has a market capitalization of $87.10 billion, a PE ratio of 52.24 and a beta of 0.75. The company has a 50 day moving average price of $321.73 and a 200-day moving average price of $300.95. 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 earnings results on Thursday, January 30th. The financial services provider reported $2.13 earnings per share for the quarter, topping 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%. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.65 per share. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.60 dividend on an annualized basis and a yield of 0.76%. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 39.88%.

Insider Transactions at Arthur J. Gallagher & Co.

In other news, Director David S. Johnson sold 325 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $322.06, for a total value of $104,669.50. Following the sale, the director now directly owns 44,783 shares in the company, valued at approximately $14,422,812.98. This trade represents a 0.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher E. Mead sold 2,900 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $302.61, for a total transaction of $877,569.00. Following the completion of the transaction, the vice president now directly owns 14,674 shares in the company, valued at approximately $4,440,499.14. The trade was a 16.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,235 shares of company stock valued at $7,478,224. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

AJG has been the subject of several research reports. TD Cowen upgraded shares of Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and increased their price objective for the company from $295.00 to $377.00 in a research report on Friday, January 10th. Redburn Atlantic initiated coverage on Arthur J. Gallagher & Co. in a research report on Tuesday. They issued a “neutral” rating and a $352.00 price target for the company. Piper Sandler upgraded Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $285.00 to $315.00 in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods lifted their target price on 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, Wells Fargo & Company increased their price target on Arthur J. Gallagher & Co. from $341.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has an average rating of “Hold” and a consensus price target of $313.20.

Arthur J. Gallagher & Co. 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.