Cornerstone Capital buys $17.6 Million stake in Arthur J Gallagher & Co (AJG)

Arthur J Gallagher & Co (AJG) : Cornerstone Capital scooped up 8,043 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 May 12, 2016. The investment management firm now holds a total of 373,675 shares of Arthur J Gallagher & Co which is valued at $17.6 Million.Arthur J Gallagher & Co makes up approximately 3.91% of Cornerstone Capital’s portfolio.

Other Hedge Funds, Including , Mitsubishi Ufj Trust Banking Corp boosted its stake in AJG in the latest quarter, The investment management firm added 128,200 additional shares and now holds a total of 476,589 shares of Arthur J Gallagher & Co which is valued at $22.5 Million. Arthur J Gallagher & Co makes up approx 0.05% of Mitsubishi Ufj Trust Banking Corp’s portfolio.Bollard Group boosted its stake in AJG in the latest quarter, The investment management firm added 294 additional shares and now holds a total of 34,385 shares of Arthur J Gallagher & Co which is valued at $1.6 Million. Arthur J Gallagher & Co makes up approx 0.13% of Bollard Group’s portfolio.Nationwide Fund Advisors boosted its stake in AJG in the latest quarter, The investment management firm added 75,420 additional shares and now holds a total of 599,959 shares of Arthur J Gallagher & Co which is valued at $28.2 Million. Arthur J Gallagher & Co makes up approx 0.12% of Nationwide Fund Advisors’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in AJG in the latest quarter, The investment management firm added 2,368 additional shares and now holds a total of 24,241 shares of Arthur J Gallagher & Co which is valued at $1.1 Million. Arthur J Gallagher & Co makes up approx 0.03% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.Russell Frank Co reduced its stake in AJG by selling 91,771 shares or 34.64% in the most recent quarter. The Hedge Fund company now holds 173,167 shares of AJG which is valued at $8 Million. Arthur J Gallagher & Co makes up approx 0.01% of Russell Frank Co’s portfolio.

Arthur J Gallagher & Co opened for trading at $47.67 and hit $48.08 on the upside on Friday, eventually ending the session at $47.78, with a gain of 0.34% or 0.16 points. The heightened volatility saw the trading volume jump to 8,35,106 shares. Company has a market cap of $8,463 M.

On the company’s financial health, Arthur J Gallagher & Co reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.30. The company had revenue of $1300.40 million for the quarter, compared to analysts expectations of $1325.54 million. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Investors should note that on Apr 27, 2016, Arthur J Gallagher & Co announced a cash dividend of $0.3800. The company’s management has announced Jun 1, 2016 as the ex-dividend date and fixed the record date on Jun 3, 2016. The payable date has been fixed on Jun 17, 2016.

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.

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