Balboa Wealth Partners Sells 123 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

Balboa Wealth Partners decreased its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 5.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,168 shares of the financial services provider’s stock after selling 123 shares during the quarter. Balboa Wealth Partners’ holdings in Arthur J. Gallagher & Co. were worth $610,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in shares of Arthur J. Gallagher & Co. by 19.1% during the first quarter. Empowered Funds LLC now owns 3,222 shares of the financial services provider’s stock worth $806,000 after purchasing an additional 516 shares during the period. Koshinski Asset Management Inc. bought a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter worth about $213,000. Orion Portfolio Solutions LLC raised its position in shares of Arthur J. Gallagher & Co. by 16.2% during the first quarter. Orion Portfolio Solutions LLC now owns 11,306 shares of the financial services provider’s stock worth $2,827,000 after purchasing an additional 1,575 shares during the period. Great Lakes Retirement Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 3.2% in the first quarter. Great Lakes Retirement Inc. now owns 3,211 shares of the financial services provider’s stock valued at $803,000 after buying an additional 99 shares in the last quarter. Finally, M&G Plc purchased a new position in Arthur J. Gallagher & Co. during the 1st quarter worth $30,578,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $294.63 on Friday. Arthur J. Gallagher & Co. has a twelve month low of $218.63 and a twelve month high of $301.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $64.64 billion, a P/E ratio of 56.12, a P/E/G ratio of 2.51 and a beta of 0.72. The stock’s 50-day simple moving average is $288.50 and its two-hundred day simple moving average is $274.11.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced 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 during the quarter, compared to analyst estimates of $2.78 billion. Arthur J. Gallagher & Co. had a net margin of 10.40% and a return on equity of 19.12%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 earnings per share. As a group, equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.11 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The business also recently disclosed 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 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is presently 45.71%.

Analyst Ratings Changes

Several research firms have weighed in on AJG. UBS Group boosted their price objective on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Piper Sandler increased their target price on shares of Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Royal Bank of Canada increased their price objective on Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Wells Fargo & Company boosted their target price on Arthur J. Gallagher & Co. from $309.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group lifted their price objective on Arthur J. Gallagher & Co. from $272.00 to $286.00 in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and an average price target of $289.14.

Insider Activity at Arthur J. Gallagher & Co.

In other news, VP Christopher E. Mead sold 2,800 shares of the firm’s 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michael Robert Pesch sold 7,100 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $296.20, for a total transaction of $2,103,020.00. Following the completion of the sale, the president now directly owns 33,267 shares in the company, valued at $9,853,685.40. This represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock worth $6,892,280 in the last three months. 1.60% of the stock is owned by insiders.

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.