Brown Advisory Inc. Has $963.21 Million Stake in Arthur J. Gallagher & Co. (NYSE:AJG)

Brown Advisory Inc. lessened its stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) by 5.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,789,959 shares of the financial services provider's stock after selling 167,674 shares during the quarter. Arthur J. Gallagher & Co. comprises about 1.4% of Brown Advisory Inc.'s investment portfolio, making the stock its 17th largest holding. Brown Advisory Inc. owned about 1.09% of Arthur J. Gallagher & Co. worth $963,206,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AJG. Consolidated Capital Management LLC acquired a new position in Arthur J. Gallagher & Co. in the first quarter valued at about $285,000. Capital Management Associates Inc acquired a new position in Arthur J. Gallagher & Co. in the first quarter valued at about $394,000. EULAV Asset Management grew its stake in Arthur J. Gallagher & Co. by 54.9% in the first quarter. EULAV Asset Management now owns 25,400 shares of the financial services provider's stock valued at $8,769,000 after acquiring an additional 9,000 shares during the period. Washington Trust Bank grew its stake in Arthur J. Gallagher & Co. by 5.0% in the first quarter. Washington Trust Bank now owns 774 shares of the financial services provider's stock valued at $267,000 after acquiring an additional 37 shares during the period. Finally, Fullcircle Wealth LLC grew its stake in Arthur J. Gallagher & Co. by 8.8% in the first quarter. Fullcircle Wealth LLC now owns 733 shares of the financial services provider's stock valued at $237,000 after acquiring an additional 59 shares during the period. Institutional investors own 85.53% of the company's stock.

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

In other Arthur J. Gallagher & Co. news, Director David S. Johnson sold 1,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $342.04, for a total value of $342,040.00. Following the sale, the director owned 45,323 shares in the company, valued at $15,502,278.92. This represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Susan E. Pietrucha sold 13,500 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $344.13, for a total value of $4,645,755.00. Following the completion of the transaction, the insider directly owned 11,941 shares in the company, valued at $4,109,256.33. The trade was a 53.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $8,528,080 over the last 90 days. Company insiders own 1.60% of the company's stock.

Arthur J. Gallagher & Co. Stock Down 0.7%

AJG traded down $2.06 on Friday, hitting $311.52. 715,217 shares of the company were exchanged, compared to its average volume of 1,386,334. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.44 and a current ratio of 1.44. The stock's fifty day moving average is $327.80 and its 200-day moving average is $320.48. The company has a market cap of $79.78 billion, a PE ratio of 45.08 and a beta of 0.71. Arthur J. Gallagher & Co. has a 12 month low of $267.00 and a 12 month high of $351.23.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.10. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.85 billion. Arthur J. Gallagher & Co. had a return on equity of 14.83% and a net margin of 14.39%. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.45 earnings per share. Equities research analysts predict that Arthur J. Gallagher & Co. will post 11.54 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $2.60 annualized dividend and a yield of 0.83%. Arthur J. Gallagher & Co.'s dividend payout ratio is 37.63%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their target price on Arthur J. Gallagher & Co. from $326.00 to $330.00 and gave the company a "market perform" rating in a research note on Wednesday. Jefferies Financial Group decreased their target price on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Redburn Atlantic initiated coverage on Arthur J. Gallagher & Co. in a report on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price target on the stock. Barclays cut their price target on Arthur J. Gallagher & Co. from $346.00 to $327.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Wells Fargo & Company cut their price target on Arthur J. Gallagher & Co. from $372.00 to $371.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $318.21.

About Arthur J. Gallagher & Co.

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