Financial Stocks Little Changed Near Close; Arthur J. Gallagher Buys Employee-Benefits Broker

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Financial stocks were narrowly mixed with the NYSE Financial Sector Index holding on to less than a 0.1% gain and the S&P Financial 100 Index slipping about 0.1% this afternoon.

In company news, Arthur J. Gallagher & Co. ( AJG ) was trading lower today, recently sliding about 1% at $16.04 a share after the acquisition-minded insurance broker said it purchased Jenkins & Associates for an undisclosed sum.

Springfield, Mo.-based Jenkins & Associates offers employee benefit and consulting services, including group medical, dental, life insurance and long term care programs for corporate clients throughout the Midwest. In particular, the company specializes in working with public school consortiums and various association plans.

In other sector news,

(+) AXP, Agrees to repay an estimated $59.5 million to more than 335,000 consumers for illegal credit card practices. Separately, Susquehanna reiterates Neutral rating for the stock with a $90 price target.

(-) CWBC, Federal Reserve Board approves request by the bank to again pay outstanding, cumulative dividends on the Company's Series A preferred stock.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: AJG

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