Effective Friday, May 27, insurance brokerage Arthur J. Gallagher & Co. (NYSE: AJG) will replace Coca-Cola Enterprises Inc. (NYSE: CCE) on the Standard & Poor’s 500 index. Â Coca Cola Enterprises is merging with two other Coca-Cola bottlers to form a new company called Coca-Cola European Partners, a company that will be domiciled in Spain and, therefore, ineligible for continued inclusion in the S&P 500.
Gallagher, through its subsidiaries, provides insurance brokerage and risk management services in the United States and internationally in three lines of business: brokerage, risk management and corporate.
The brokerage segment consists of retail and wholesale brokerage operations. Its retail brokerage operations negotiate and place property/casualty, employer-provided health and welfare insurance and health care exchange and retirement solutions for middle-market commercial, industrial, public entity, religious and not-for-profit entities. Wholesale brokerage operations help in the placement of specialized and hard-to-place insurance programs, and it also acts as a brokerage wholesaler, among other services.
The risk management segment offers contract claim settlement and administration services for enterprises that choose to self-insure their property/casualty coverages, and for insurance companies that choose to outsource their property/casualty claims departments. This segment also offers integrated disability management programs, as well as information, risk control consulting and appraisal services.
The corporate segment commercializes multi-pollutant reduction technologies to reduce mercury, sulfur dioxide and other emissions at coal-fired power plants, and it owns technologies that reduce carbon dioxide emissions.
Gallagher’s shares traded down about 0.1% in the noon hour on Wednesday, at $48.07 in a 52-week range of $35.96 to $49.50. The stock’s average daily volume is around 845,000 shares, and the consensus price target is $49.94.
Smart Investors Are Quietly Loading Up on These “Dividend Legends” (Sponsored)
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
