Arthur J Gallagher & Co (AJG) : Fort Pitt Capital Group scooped up 48,268 additional shares in Arthur J Gallagher & Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 638,303 shares of Arthur J Gallagher & Co which is valued at $31,276,847.Arthur J Gallagher & Co makes up approximately 3.71% of Fort Pitt Capital Group’s portfolio.
Other Hedge Funds, Including , Wright Investors Service Inc added AJG to its portfolio by purchasing 5,000 company shares during the most recent quarter which is valued at $245,000. Arthur J Gallagher & Co makes up approx 0.10% of Wright Investors Service Inc’s portfolio.Alley Co boosted its stake in AJG in the latest quarter, The investment management firm added 1,332 additional shares and now holds a total of 77,926 shares of Arthur J Gallagher & Co which is valued at $3,833,180. Arthur J Gallagher & Co makes up approx 1.70% of Alley Co’s portfolio.Palouse Capital Management reduced its stake in AJG by selling 1,546 shares or 2.12% in the most recent quarter. The Hedge Fund company now holds 71,476 shares of AJG which is valued at $3,538,062. Arthur J Gallagher & Co makes up approx 1.37% of Palouse Capital Management’s portfolio. Hartford Investment Management Co added AJG to its portfolio by purchasing 47,387 company shares during the most recent quarter which is valued at $2,329,545. Arthur J Gallagher & Co makes up approx 0.05% of Hartford Investment Management Co’s portfolio.Benjamin F. Edwards Company reduced its stake in AJG by selling 204 shares or 44.93% in the most recent quarter. The Hedge Fund company now holds 250 shares of AJG which is valued at $12,193.
Arthur J Gallagher & Co closed down -0.1 points or -0.20% at $48.9 with 10,57,066 shares getting traded on Thursday. Post opening the session at $48.85, the shares hit an intraday low of $48.81 and an intraday high of $49.3 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
On the company’s financial health, Arthur J Gallagher & Co reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.96. The company had revenue of $1427.10 million for the quarter, compared to analysts expectations of $1467.97 million. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.
Investors should note that on Jul 27, 2016, Arthur J Gallagher & Co announced a cash dividend of $0.3800. The company’s management has announced Aug 31, 2016 as the ex-dividend date and fixed the record date on Sep 2, 2016. The payable date has been fixed on Sep 16, 2016.
Many Wall Street Analysts have commented on Arthur J Gallagher & Co. Company shares were Reiterated by Compass Point on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 59 from a previous price target of $51 .
Arthur J. Gallagher & Co. is engaged in providing insurance brokerage and consulting services and third-party claims settlement and administration services to entities in the United States and abroad. The Company’s brokers agents and administrators act as intermediaries between insurers and their customers. The Company operates in three segments: brokerage risk management and corporate. The brokerage segment comprises of retail and wholesale insurance brokerage operations. The risk management segment provides contract claim settlement and administration services for enterprises and for insurance companies. The corporate segment reports the financial information related to its debt clean energy investments external acquisition-related expenses and other corporate costs.