Brown & Brown, Inc. (BRO) Forecasted to Post FY2016 Earnings of $1.82 Per Share
Brown & Brown, Inc. (NYSE:BRO) – Research analysts at William Blair decreased their FY2016 earnings per share estimates for Brown & Brown in a research report issued on Tuesday. William Blair analyst A. Klauber now expects that the brokerage will post earnings of $1.82 per share for the year, down from their previous estimate of $1.83. William Blair also issued estimates for Brown & Brown’s Q4 2016 earnings at $0.41 EPS.
Several other equities analysts have also weighed in on the stock. Barclays PLC reaffirmed a “sell” rating and set a $39.00 price objective on shares of Brown & Brown in a research report on Monday. Langen Mcalenn reissued a “buy” rating on shares of Brown & Brown in a research report on Friday, December 30th. J P Morgan Chase & Co raised shares of Brown & Brown from an “underweight” rating to a “neutral” rating in a research report on Friday, December 16th. BMO Capital Markets raised shares of Brown & Brown from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $37.00 to $46.00 in a research report on Monday, December 12th. Finally, Zacks Investment Research lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Monday, December 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $37.36.
Brown & Brown (NYSE:BRO) traded up 0.57% on Friday, reaching $44.20. 298,967 shares of the company’s stock were exchanged. The stock has a market capitalization of $6.20 billion, a PE ratio of 24.30 and a beta of 0.73. The firm has a 50 day moving average of $44.41 and a 200 day moving average of $39.07. Brown & Brown has a 12 month low of $28.41 and a 12 month high of $45.77.
Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Thursday, October 20th. The company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. Brown & Brown had a net margin of 14.84% and a return on equity of 11.80%. The firm had revenue of $462.30 million for the quarter, compared to the consensus estimate of $455.56 million. During the same period in the prior year, the firm posted $0.47 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year.
In related news, EVP Jerome Scott Penny sold 10,000 shares of the business’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $43.56, for a total transaction of $435,600.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Richard Freebourn sold 25,000 shares of the business’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $42.90, for a total transaction of $1,072,500.00. The disclosure for this sale can be found here. Corporate insiders own 17.49% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in Brown & Brown by 124.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,693 shares of the company’s stock worth $101,000 after buying an additional 1,494 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in Brown & Brown by 11.4% in the third quarter. Integrated Investment Consultants LLC now owns 2,925 shares of the company’s stock worth $110,000 after buying an additional 300 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in Brown & Brown during the second quarter worth $112,000. TLP Group LLC acquired a new stake in Brown & Brown during the third quarter worth $113,000. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Brown & Brown by 2.1% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,498 shares of the company’s stock worth $132,000 after buying an additional 71 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Brown & Brown Company Profile
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services in the property, casualty and employee benefits areas. It provides customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.
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