Ibex Wealth Advisors Takes $1.16 Million Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Ibex Wealth Advisors bought a new stake in Arthur J. Gallagher & Co. (NYSE:AJG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,097 shares of the financial services provider’s stock, valued at approximately $1,163,000.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Arthur J. Gallagher & Co. by 21.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 67,146 shares of the financial services provider’s stock valued at $18,893,000 after acquiring an additional 11,752 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Arthur J. Gallagher & Co. by 15.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 109,639 shares of the financial services provider’s stock valued at $30,450,000 after purchasing an additional 14,860 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Arthur J. Gallagher & Co. by 231.2% in the 3rd quarter. Principal Financial Group Inc. now owns 885,796 shares of the financial services provider’s stock worth $249,237,000 after buying an additional 618,362 shares in the last quarter. MML Investors Services LLC boosted its position in Arthur J. Gallagher & Co. by 1.2% in the 3rd quarter. MML Investors Services LLC now owns 183,857 shares of the financial services provider’s stock valued at $51,732,000 after buying an additional 2,092 shares during the last quarter. Finally, Running Oak Capital LLC grew its stake in shares of Arthur J. Gallagher & Co. by 8.9% during the fourth quarter. Running Oak Capital LLC now owns 48,722 shares of the financial services provider’s stock valued at $13,830,000 after acquiring an additional 3,983 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG traded down $0.36 during trading on Wednesday, hitting $293.05. The company had a trading volume of 74,064 shares, compared to its average volume of 1,856,231. The company has a market cap of $73.20 billion, a P/E ratio of 55.86 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. The business’s 50-day moving average is $291.81 and its 200 day moving average is $288.34. Arthur J. Gallagher & Co. has a 52 week low of $227.43 and a 52 week high of $316.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AJG shares. BMO Capital Markets raised their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their price target for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Bank of America boosted their target price on shares of Arthur J. Gallagher & Co. from $271.00 to $293.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Barclays upped their price objective on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, TD Cowen upgraded Arthur J. Gallagher & Co. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $295.00 to $377.00 in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $304.07.

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 business segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.