Lebenthal Asset Management adds Arthur J Gallagher & Co (AJG) to its portfolio

Arthur J Gallagher & Co (AJG) : Lebenthal Asset Management added new position in Arthur J Gallagher & Co during the most recent quarter end. The investment management firm now holds 126,582 shares of Arthur J Gallagher & Co which is valued at $6,250,619 , the company said in a statement filed on Aug 11, 2016 with the SEC.Arthur J Gallagher & Co makes up approximately 0.78% of Lebenthal Asset Management’s portfolio.

Other Hedge Funds, Including , Baird Financial Group reduced its stake in AJG by selling 31 shares or 0.51% in the most recent quarter. The Hedge Fund company now holds 5,992 shares of AJG which is valued at $295,885.Texas Permanent School Fund reduced its stake in AJG by selling 60,115 shares or 42.49% in the most recent quarter. The Hedge Fund company now holds 81,368 shares of AJG which is valued at $4,017,952. Arthur J Gallagher & Co makes up approx 0.05% of Texas Permanent School Fund’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.Stonebridge Capital Management Inc reduced its stake in AJG by selling 3,510 shares or 9.18% in the most recent quarter. The Hedge Fund company now holds 34,725 shares of AJG which is valued at $1,718,888. Arthur J Gallagher & Co makes up approx 0.76% of Stonebridge Capital Management Inc’s portfolio.Louisiana State Employees Retirement System reduced its stake in AJG by selling 37,500 shares or 76.37% in the most recent quarter. The Hedge Fund company now holds 11,600 shares of AJG which is valued at $574,200. Arthur J Gallagher & Co makes up approx 0.03% of Louisiana State Employees Retirement System’s portfolio.

Arthur J Gallagher & Co closed down -0.33 points or -0.68% at $48.47 with 15,91,232 shares getting traded on Tuesday. Post opening the session at $49.01, the shares hit an intraday low of $48.365 and an intraday high of $49.1492 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

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