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Broker's Profits Grow Faster Than Its Sales.(B)(NYSE STOCKS IN THE NEWS)
Byline: David Saito-Chung and Julie Huynh
Arthur J. Gallagher is forming what looks like a saucer pattern since posting a new high of 38.82 on Oct. 29.
The Illinois-based insurance broker and risk management firm does business in more than 100 countries. Last month, Gallagher said it's buying Cornwall & Stevens, which specializes in property-casualty insurance in the agricultural and news media industries.
Earnings per share growth has ranged from 23% to 50% over the past five quarters despite 12%-18% revenue growth in the same period. The reason? Gallagher is enjoying higher profit margins, thanks to rising ...
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