ROLLING MEADOWS, Ill. - Arthur J. Gallagher & Co., the global insurance brokerage and consulting services firm, has acquired Acumen Advisors, Inc., an Iowa-based employee benefits consultancy. The acquisition, announced today, aims to enhance Gallagher's service offerings in the Midwest region.
Acumen Advisors specializes in providing employee benefits consultation to small and mid-size businesses throughout Iowa. The firm's team, including Andrew Morf and Kirby (NYSE:KEX) Moss, will continue operating from their current locations. They will now report to Tom Lannen, who oversees Gallagher's Midwest employee benefits consulting operations.
J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co., expressed enthusiasm about the acquisition, stating, "Acumen is a highly regarded firm that will expand our employee benefits offerings in the region." He welcomed the Acumen team to Gallagher, signaling a smooth transition into the larger organization.
Arthur J. Gallagher & Co., headquartered in Rolling Meadows, Illinois, operates in approximately 130 countries. The company provides a broad range of insurance brokerage, risk management, and consulting services through its owned operations and a network of correspondent brokers and consultants.
The financial terms of the transaction were not disclosed. This strategic move is part of Gallagher's ongoing effort to grow its presence and capabilities in key markets, potentially providing its clients with a more comprehensive suite of services.
The acquisition is based on a press release statement issued by Arthur J. Gallagher & Co.
InvestingPro Insights
As Arthur J. Gallagher & Co. (AJG) continues to expand its service offerings with strategic acquisitions like Acumen Advisors, the company's financial health and market performance remain key indicators for investors. According to InvestingPro data, AJG boasts a market capitalization of approximately $54.81 billion, underscoring its significant presence in the insurance brokerage industry. The company's Price/Earnings (P/E) ratio stands at a high 49.61, reflecting high investor expectations for future earnings growth. However, when adjusted for the last twelve months as of Q1 2024, the P/E ratio is more moderate at 30.65.
InvestingPro Tips highlight that AJG has raised its dividend for 13 consecutive years and has maintained dividend payments for an impressive 40 consecutive years, showcasing the company's commitment to shareholder returns. Additionally, AJG is trading near its 52-week high, with the price at 97.95% of this peak, signaling strong market confidence. For investors seeking more in-depth analysis, there are 11 additional InvestingPro Tips available, including insights on earnings revisions, profitability predictions, and stock volatility. These tips can be explored further at https://www.investing.com/pro/AJG.
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