Baltimore Washington Financial Advisors Inc. Has $23.46 Million Holdings in Arthur J. Gallagher & Co. $AJG

Key Points

• Baltimore Washington Financial Advisors increased its stake in Arthur J. Gallagher & Co. to 75,734 shares (a 6.8% rise), valued at about $23.46 million at quarter-end.
• Arthur J. Gallagher reported quarterly EPS of $2.38 (beating the $2.35 estimate) with revenue of $3.57 billion, up 33.9% year-over-year, while the consensus analyst rating remains a Hold with a $281.76 target.
• The company raised its quarterly dividend to $0.70 per share (annualized $2.80, yield 1.2%); the dividend is payable March 20 with an ex-dividend/record date of March 6.

Baltimore Washington Financial Advisors Inc. raised its position in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 6.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,734 shares of the financial services provider's stock after purchasing an additional 4,798 shares during the quarter. Baltimore Washington Financial Advisors Inc.'s holdings in Arthur J. Gallagher & Co. were worth $23,458,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AJG. Physician Wealth Advisors Inc. grew its position in Arthur J. Gallagher & Co. by 870.0% in the third quarter. Physician Wealth Advisors Inc. now owns 97 shares of the financial services provider's stock worth $30,000 after acquiring an additional 87 shares in the last quarter. Rakuten Securities Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 650.0% in the 2nd quarter. Rakuten Securities Inc. now owns 105 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in Arthur J. Gallagher & Co. by 40.6% in the third quarter. Central Pacific Bank Trust Division now owns 135 shares of the financial services provider's stock worth $42,000 after purchasing an additional 39 shares in the last quarter. Westside Investment Management Inc. increased its position in Arthur J. Gallagher & Co. by 100.0% during the third quarter. Westside Investment Management Inc. now owns 136 shares of the financial services provider's stock worth $42,000 after buying an additional 68 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new position in Arthur J. Gallagher & Co. during the third quarter valued at about $62,000. Institutional investors own 85.53% of the company's stock.

Arthur J. Gallagher & Co. Trading Down 0.5%

Arthur J. Gallagher & Co. stock opened at $228.40 on Friday. Arthur J. Gallagher & Co. has a 52 week low of $195.00 and a 52 week high of $351.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $58.72 billion, a PE ratio of 37.14, a PEG ratio of 1.12 and a beta of 0.67. The business's 50-day simple moving average is $239.88 and its 200-day simple moving average is $263.69.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last announced its earnings results on Thursday, January 29th. The financial services provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.03. The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.61 billion. Arthur J. Gallagher & Co. had a return on equity of 12.13% and a net margin of 11.84%.The firm's revenue for the quarter was up 33.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 EPS. Equities research 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 business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.2%. This is an increase from Arthur J. Gallagher & Co.'s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, March 6th. Arthur J. Gallagher & Co.'s payout ratio is presently 42.28%.

Insider Buying and Selling

In other news, VP Christopher E. Mead sold 4,000 shares of the business's stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $258.11, for a total transaction of $1,032,440.00. Following the transaction, the vice president owned 17,327 shares in the company, valued at approximately $4,472,271.97. The trade was a 18.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Walter D. Bay sold 15,850 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $255.00, for a total transaction of $4,041,750.00. Following the completion of the sale, the general counsel owned 79,549 shares of the company's stock, valued at approximately $20,284,995. The trade was a 16.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 24,850 shares of company stock valued at $6,364,440. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

AJG has been the subject of several recent analyst reports. Wolfe Research set a $289.00 price target on Arthur J. Gallagher & Co. and gave the stock an "outperform" rating in a research note on Wednesday, December 17th. Piper Sandler reduced their target price on Arthur J. Gallagher & Co. from $249.00 to $226.00 and set a "neutral" rating for the company in a report on Monday, February 23rd. Barclays decreased their target price on Arthur J. Gallagher & Co. from $250.00 to $247.00 and set an "underweight" rating for the company in a research report on Thursday, January 8th. Wall Street Zen upgraded Arthur J. Gallagher & Co. from a "sell" rating to a "hold" rating in a report on Saturday, February 21st. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Arthur J. Gallagher & Co. in a research note on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Arthur J. Gallagher & Co. presently has a consensus rating of "Hold" and a consensus target price of $281.76.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co is a global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois. Founded in 1927 by Arthur J. Gallagher, the company has grown from a regional broker into an international professional services organization that arranges insurance, provides consulting and designs risk-transfer solutions for commercial, industrial, public sector and individual clients.

The company's core activities include property and casualty insurance brokerage, employee benefits consulting and administration, and a range of risk management services.

Want to see what other hedge funds are holding AJG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arthur J. Gallagher & Co. (NYSE:AJG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.