Arthur J. Gallagher & Co. (NYSE:AJG) Stock Holdings Increased by Baltimore Washington Financial Advisors Inc.

Baltimore Washington Financial Advisors Inc. lifted its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,497 shares of the financial services provider’s stock after purchasing an additional 1,984 shares during the quarter. Baltimore Washington Financial Advisors Inc.’s holdings in Arthur J. Gallagher & Co. were worth $12,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Okabena Investment Services Inc. raised its position in shares of Arthur J. Gallagher & Co. by 204.8% in the third quarter. Okabena Investment Services Inc. now owns 7,601 shares of the financial services provider’s stock valued at $2,139,000 after purchasing an additional 5,107 shares during the period. Kingsview Wealth Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. in the third quarter worth $243,000. Cerity Partners LLC grew its stake in shares of Arthur J. Gallagher & Co. by 58.2% in the third quarter. Cerity Partners LLC now owns 21,388 shares of the financial services provider’s stock worth $6,018,000 after acquiring an additional 7,867 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in Arthur J. Gallagher & Co. by 42.3% during the third quarter. Great Valley Advisor Group Inc. now owns 14,759 shares of the financial services provider’s stock worth $4,153,000 after buying an additional 4,388 shares in the last quarter. Finally, Nicolet Advisory Services LLC boosted its stake in Arthur J. Gallagher & Co. by 8.1% during the third quarter. Nicolet Advisory Services LLC now owns 997 shares of the financial services provider’s stock worth $285,000 after buying an additional 75 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Arthur J. Gallagher & Co. Stock Up 0.6 %

AJG stock opened at $304.29 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $66.76 billion, a price-to-earnings ratio of 57.96, a PEG ratio of 2.58 and a beta of 0.72. The business’s fifty day moving average price is $288.55 and its two-hundred day moving average price is $276.96. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $308.00.

Arthur J. Gallagher & Co. (NYSE:AJG) last released its earnings results on Thursday, October 24th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.26. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. Arthur J. Gallagher & Co.’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 EPS. On average, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Insider Activity

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 7,000 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $284.70, for a total value of $1,992,900.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares in the company, valued at approximately $21,626,666.10. The trade was a 8.44 % 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. Also, VP Christopher E. Mead sold 2,800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the sale, the vice president now owns 14,674 shares of the company’s stock, valued at approximately $4,211,438. The trade was a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,900 shares of company stock valued at $6,892,280. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AJG shares. Royal Bank of Canada boosted their target price on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Truist Financial boosted their target price on shares of 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. Barclays lifted their price target on Arthur J. Gallagher & Co. from $300.00 to $308.00 and gave the company an “equal weight” rating in a report on Thursday. TD Cowen lifted their price target on Arthur J. Gallagher & Co. from $273.00 to $288.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Finally, Wells Fargo & Company boosted their price objective on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $289.71.

Arthur J. Gallagher & Co. Company 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.