Financial Stocks Paring Advance; Arthur J. Gallagher & Co. Snaps Up Employee-Benefits Firms

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Financial stocks are giving up a portion of their earlier gains with the NYSE Financial Sector Index advancing 0.4% and the S&P Financial 100 Index gaining 0.2% in late Wednesday trade.

In company news, Arthur J. Gallagher & Co. ( AJG ) is up 0.6% in late trade at 447.34 a share after this afternoon announcing its purchase of Employee Benefits Analysis Corp. in Addison, Texas. Terms of the transaction were not disclosed.

According to AJG, Employee Benefits specializes in complex self-funded and fully insured designed benefit plans for corporate clients. It also assists with employees benefits following mergers and acquisitions as well as administering retirement plans, online enrollment systems and wellness programs.

In other sector news,

(+) FNGN, Q3 net income of $0.20 per share beats the Thomson Reuters consensus by $0.02. Revenue grew 28.3% year over year to $62.1 million, topping estimates by $1.62 million.

(-) VRSK, Fraud-detection company working with the insurance industry says Q3 revenue rose 10% year over year to $438.56 mln, trailing analyst expectations by $5.99 mln. Earns $0.62 per share, ex items, beating the Capital IQ consensus by $0.02.



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This article appears in: Investing , Commodities

Referenced Stocks: AJG

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