Baltimore Washington Financial Advisors Inc. Has $12.80 Million Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Baltimore Washington Financial Advisors Inc. raised its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 4.6% in the third quarter, HoldingsChannel reports. The fund 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 SEC filing.

Other hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Arthur J. Gallagher & Co. during the second quarter valued at approximately $26,000. Mark Sheptoff Financial Planning LLC purchased a new position in Arthur J. Gallagher & Co. in the second quarter worth $26,000. Rakuten Securities Inc. boosted its position 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 worth $29,000 after purchasing an additional 87 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in Arthur J. Gallagher & Co. in the first quarter worth $27,000. Finally, DiNuzzo Private Wealth Inc. boosted its position in Arthur J. Gallagher & Co. by 89.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

NYSE:AJG opened at $304.29 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.06 and a current ratio of 1.06. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $308.00. The firm has a market cap 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 is $288.55 and its 200 day moving average is $276.96.

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

Arthur J. Gallagher & Co. Announces Dividend

The firm 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 annualized dividend and a dividend yield of 0.79%. Arthur J. Gallagher & Co.’s payout ratio is currently 45.71%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Piper Sandler boosted their price objective on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. 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 research report on Thursday, October 10th. Royal Bank of Canada boosted their target price on 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. Finally, UBS Group boosted their target price on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $289.71.

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

In other Arthur J. Gallagher & Co. news, President Michael Robert Pesch sold 7,100 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the sale, the president now owns 33,267 shares of the company’s stock, valued at $9,853,685.40. This trade represents a 17.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher E. Mead sold 2,800 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $287.00, for a total value of $803,600.00. Following the transaction, the vice president now owns 14,674 shares in the company, valued at $4,211,438. This trade represents a 16.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock valued at $6,892,280 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

About Arthur J. Gallagher & Co.

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.