Arthur J Gallagher Co (AJG)

Arthur J. Gallagher & Co. (AJG) stock dropped by 7.41% due to Transamerica's announcement that it had been selected as the recordkeeper for Gallagher's new 401(k) Choice Pooled SolutionsSM. Gallagher's 401(k) Choice Pooled Solutions allows employers to choose between two retirement plan options under a single contract, with Transamerica providing recordkeeping services. This strategic move aimed to provide cost-efficient retirement plan options for small and large employers. Investors reacted to this announcement by selling AJG shares, leading to the decline in the company's stock price.