ROLLING MEADOWS, Ill. (AP) — ROLLING MEADOWS, Ill. (AP) — Arthur J. Gallagher & Co. (AJG) on Thursday reported third-quarter earnings of $403 million.

On a per-share basis, the Rolling Meadows, Illinois-based company said it had net income of $1.55. Earnings, adjusted for non-recurring costs, came to $3 per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.01 per share.

The insurance and risk-management company posted revenue of $3.98 billion in the period. Its adjusted revenue was $3.92 billion, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $3.97 billion.

Arthur J. Gallagher shares have increased nearly 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $268.20, a rise of slightly more than 2% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AJG at https://www.zacks.com/ap/AJG