Arthur J. Gallagher & Co, a global insurance brokerage, risk management and consulting services firm, said on Monday that it had acquired Norwalk, Connecticut-based OperationsInc LLC.
However, the company did not disclose any financial details of the agreement.
OperationsInc is a consulting firm that offers comprehensive solutions in human resources, payroll and human resources information system services, talent acquisition and employee training to US clients.
“OperationsInc’s growth-oriented culture and deep capabilities in HR consulting will significantly broaden our client offerings,” J. Patrick Gallagher, Jr., Chairman, President and Chief Executive Officer, said in a press release.
“I am delighted to welcome David and his associates to our growing Gallagher family of professionals,” the CEO added.
Stock Performance
The shares of Arthur J. Gallagher & Co (AJG) closed 0.22% ($0.59) higher at $265.19 in New York on Monday.
It has been an all-time high closing price for the stock.
The company’s total market cap now stands at $57.948 billion.
The shares of Arthur J. Gallagher & Co (AJG) went up 19.27% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have risen 17.92% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 5 out of 11 surveyed investment analysts had rated Arthur J. Gallagher’s stock as “Buy”, while 4 – as “Hold”. The median price target on the stock stands at $264.10, which translates into a 0.41% downside compared to the closing price on Monday.
The high point of the analyst forecast range stands at $294.00.
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