Raleigh Capital Management Inc. Has $945,000 Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Raleigh Capital Management Inc. lowered its position in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 7.7% in the third quarter, HoldingsChannel reports. The fund owned 3,360 shares of the financial services provider’s stock after selling 281 shares during the period. Raleigh Capital Management Inc.’s holdings in Arthur J. Gallagher & Co. were worth $945,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Marino Stram & Associates LLC grew its position in Arthur J. Gallagher & Co. by 4.4% in the third quarter. Marino Stram & Associates LLC now owns 3,695 shares of the financial services provider’s stock valued at $1,040,000 after purchasing an additional 157 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Arthur J. Gallagher & Co. by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,216 shares of the financial services provider’s stock worth $2,874,000 after buying an additional 48 shares during the last quarter. Compass Ion Advisors LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 10.5% in the 3rd quarter. Compass Ion Advisors LLC now owns 3,308 shares of the financial services provider’s stock valued at $931,000 after acquiring an additional 315 shares in the last quarter. New Century Financial Group LLC increased its position in shares of Arthur J. Gallagher & Co. by 5.7% in the third quarter. New Century Financial Group LLC now owns 3,577 shares of the financial services provider’s stock valued at $1,006,000 after acquiring an additional 194 shares during the last quarter. Finally, Chicago Capital LLC raised its holdings in Arthur J. Gallagher & Co. by 2.2% during the third quarter. Chicago Capital LLC now owns 9,865 shares of the financial services provider’s stock worth $2,776,000 after acquiring an additional 208 shares in the last quarter. 85.53% of the stock is owned by institutional investors.

Arthur J. Gallagher & Co. Trading Up 0.1 %

Shares of NYSE AJG opened at $289.62 on Tuesday. The firm has a 50 day moving average price of $289.00 and a two-hundred day moving average price of $268.31. The stock has a market cap of $63.28 billion, a P/E ratio of 58.63, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. Arthur J. Gallagher & Co. has a 52-week low of $218.63 and a 52-week high of $301.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.77 billion. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. Arthur J. Gallagher & Co.’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 earnings per share. As a group, equities analysts forecast that Arthur J. Gallagher & Co. will post 10.11 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 48.58%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AJG shares. UBS Group upped their price objective on Arthur J. Gallagher & Co. from $260.00 to $292.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. BMO Capital Markets raised their price target on Arthur J. Gallagher & Co. from $275.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank Of America (Bofa) upped their price objective on shares of Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Barclays initiated coverage on shares of Arthur J. Gallagher & Co. in a report on Wednesday, September 4th. They set an “equal weight” rating and a $300.00 target price for the company. Finally, Jefferies Financial Group upped their price objective on shares of Arthur J. Gallagher & Co. from $269.00 to $274.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Three 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $287.00.

Insider Activity at Arthur J. Gallagher & Co.

In other news, General Counsel Walter D. Bay sold 6,335 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $284.06, for a total value of $1,799,520.10. Following the transaction, the general counsel now owns 30,053 shares in the company, valued at approximately $8,536,855.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, President Thomas Joseph Gallagher sold 15,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the transaction, the president now owns 329,099 shares in the company, valued at $93,121,853.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Walter D. Bay sold 6,335 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $284.06, for a total transaction of $1,799,520.10. Following the completion of the sale, the general counsel now owns 30,053 shares of the company’s stock, valued at $8,536,855.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,145 shares of company stock worth $12,622,660 over the last ninety days. 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.