Sonora Investment Management Lowers stake in Arthur J Gallagher & Co (AJG)

Arthur J Gallagher & Co (AJG) : Sonora Investment Management reduced its stake in Arthur J Gallagher & Co by 2.17% during the most recent quarter end. The investment management company now holds a total of 51,274 shares of Arthur J Gallagher & Co which is valued at $2,576,006 after selling 1,136 shares in Arthur J Gallagher & Co , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Arthur J Gallagher & Co makes up approximately 1.34% of Sonora Investment Management’s portfolio.

Other Hedge Funds, Including , British Columbia Investment Management Corp boosted its stake in AJG in the latest quarter, The investment management firm added 831 additional shares and now holds a total of 160,589 shares of Arthur J Gallagher & Co which is valued at $8,000,544. Arthur J Gallagher & Co makes up approx 0.08% of British Columbia Investment Management Corp’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in AJG in the latest quarter, The investment management firm added 18,455 additional shares and now holds a total of 74,059 shares of Arthur J Gallagher & Co which is valued at $3,734,055. Arthur J Gallagher & Co makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio. New England Research Management sold out all of its stake in AJG during the most recent quarter. The investment firm sold 7,600 shares of AJG which is valued $383,192.Chevy Chase Trust Holdings reduced its stake in AJG by selling 3,586 shares or 2.36% in the most recent quarter. The Hedge Fund company now holds 148,319 shares of AJG which is valued at $7,478,244. Arthur J Gallagher & Co makes up approx 0.04% of Chevy Chase Trust Holdings’s portfolio.

Arthur J Gallagher & Co opened for trading at $50.47 and hit $50.7099 on the upside on Friday, eventually ending the session at $50.24, with a gain of 0.34% or 0.17 points. The heightened volatility saw the trading volume jump to 4,92,955 shares. Company has a market cap of $8,894 M.

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.

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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