Arthur J. Gallagher & Co Stock Price, News & Analysis

On November 2, 2022, Arthur J. Gallagher announced the acquisition of Tejas American General Agency (TAGA), a Texas-based managing general agency specializing in commercial, farm, and personal insurance products. The acquisition is expected to enhance Gallagher's growth opportunities in Texas. Key executives from TAGA will continue to operate under Risk Placement Services, Inc., a division of Gallagher, under the direction of Kevin Doyle. The transaction terms remain undisclosed, with Gallagher emphasizing TAGA's strong culture and expertise as assets for future expansion.

Arthur J. Gallagher & Co. has successfully completed the acquisition of MT Insurance Agency, Inc., based in Buffalo, New York, and an indirect subsidiary of M&T Bank Corporation. The terms of the transaction were not disclosed. Following this acquisition, Gallagher will serve as the preferred insurance broking partner for M&T Bank, enhancing its position in the insurance market. Gallagher, a global leader in insurance brokerage and risk management services, operates in approximately 130 countries and aims to leverage this acquisition to expand its market offerings.

Arthur J. Gallagher & Co. (NYSE: AJG) reported strong third-quarter results for 2022, with total revenues of $2.01 billion, a 5.7% decrease year-over-year. Adjusted net earnings grew 2.8% to $370.8 million, translating to $1.72 per share. Revenue from the Brokerage segment increased 15% to $1.74 billion, while Risk Management revenue rose 5.5% to $275.5 million. Year-to-date, revenues surged 22% to $6.42 billion, with adjusted EPS up 13.1% to $6.22. The company's optimistic outlook is supported by a 10.5% increase in global premium rates.

Arthur J. Gallagher & Co. (NYSE: AJG) has declared a quarterly cash dividend of $0.51 per share on its common stock. This dividend will be payable on December 16, 2022 to stockholders of record as of December 2, 2022. Headquartered in Rolling Meadows, Illinois, Gallagher operates in around 130 countries, providing insurance brokerage, risk management, and consulting services through owned operations and a network of correspondent brokers.

Arthur J. Gallagher & Co. (NYSE: AJG) will announce its third quarter 2022 earnings after market close on October 27, 2022. Following the earnings release, CEO J. Patrick Gallagher, Jr. will lead a conference call at 5:15 PM ET on the same day. Investors can access the call live on Gallagher's website, with a replay available later. The company is a global insurance brokerage and risk management firm operating in approximately 130 countries.

Arthur J. Gallagher & Co. has signed a definitive agreement to acquire M&T Insurance Agency, Inc. (MTIA), an indirect subsidiary of M&T Bank Corporation, headquartered in Buffalo, New York. This transaction will make Gallagher the preferred insurance broking partner of M&T Bank and is expected to close in Q4 2022, pending regulatory approval. Founded in 1955, MTIA specializes in property and casualty products, customized group benefits, and surety solutions, enhancing Gallagher's market presence in the New York region.