Oppenheimer Asset Management Inc. Acquires 176 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Oppenheimer Asset Management Inc. raised its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 46,182 shares of the financial services provider’s stock after acquiring an additional 176 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $12,994,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Pinnacle Financial Partners Inc boosted its holdings in Arthur J. Gallagher & Co. by 8.2% in the third quarter. Pinnacle Financial Partners Inc now owns 2,260 shares of the financial services provider’s stock worth $636,000 after purchasing an additional 172 shares during the last quarter. MQS Management LLC bought a new position in shares of Arthur J. Gallagher & Co. during the 3rd quarter valued at $749,000. Simmons Bank boosted its stake in shares of Arthur J. Gallagher & Co. by 4.8% in the 3rd quarter. Simmons Bank now owns 1,789 shares of the financial services provider’s stock worth $503,000 after buying an additional 82 shares during the last quarter. Savvy Advisors Inc. increased its position in Arthur J. Gallagher & Co. by 26.4% during the third quarter. Savvy Advisors Inc. now owns 1,130 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 236 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in Arthur J. Gallagher & Co. by 580.0% in the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 87 shares during the period. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AJG. Truist Financial boosted their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. BMO Capital Markets upped their target price on shares of Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Barclays started coverage on Arthur J. Gallagher & Co. in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price objective for the company. Finally, TD Cowen lifted their target price on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $289.14.

Arthur J. Gallagher & Co. Stock Performance

NYSE AJG opened at $298.32 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $301.04. The business has a 50-day moving average price of $288.49 and a 200-day moving average price of $273.94. The firm has a market cap of $65.45 billion, a price-to-earnings ratio of 56.82, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting the consensus estimate of $2.26. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 EPS. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.40 dividend on an annualized basis and a yield of 0.80%. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 45.71%.

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

In other news, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now directly owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the sale, the vice president now owns 14,674 shares in the company, valued at approximately $4,211,438. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of Arthur J. Gallagher & Co. stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the transaction, the president now directly owns 33,267 shares of the company’s stock, valued at $9,853,685.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $6,892,280 in the last 90 days. Insiders own 1.60% of the company’s stock.

Arthur J. Gallagher & Co. Profile

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.