Brown & Brown Inc. (NYSE:BRO) – Analysts at Langen Mcalenn dropped their FY2017 EPS estimates for shares of Brown & Brown in a research report issued on Thursday. Langen Mcalenn analyst R. Byrnes now forecasts that the firm will earn $1.95 per share for the year, down from their prior estimate of $1.96.

Several other equities analysts also recently issued reports on BRO. Zacks Investment Research downgraded shares of Brown & Brown from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. JPMorgan Chase & Co. started coverage on shares of Brown & Brown in a report on Tuesday, June 28th. They set an “underweight” rating and a $32.00 price objective on the stock. BMO Capital Markets restated a “market perform” rating and set a $37.00 price objective (up previously from $34.00) on shares of Brown & Brown in a report on Tuesday, July 12th. Barclays PLC upped their price objective on shares of Brown & Brown from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Tuesday, July 19th. Finally, Compass Point upped their price objective on shares of Brown & Brown from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.00.

Shares of Brown & Brown (NYSE:BRO) traded up 1.05% during trading on Monday, reaching $37.61. 480,473 shares of the company’s stock traded hands. Brown & Brown has a one year low of $28.41 and a one year high of $38.11. The company has a 50 day moving average price of $36.99 and a 200-day moving average price of $36.00. The stock has a market cap of $5.26 billion, a P/E ratio of 21.01 and a beta of 1.04.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 18th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. Brown & Brown had a net margin of 14.87% and a return on equity of 11.68%. The business had revenue of $446.50 million for the quarter, compared to the consensus estimate of $439.70 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Carnick & Kubik LLC acquired a new position in shares of Brown & Brown during the first quarter worth about $158,000. Findlay Park Partners LLP raised its position in shares of Brown & Brown by 73.7% in the first quarter. Findlay Park Partners LLP now owns 4,033,036 shares of the company’s stock worth $144,383,000 after buying an additional 1,711,741 shares during the period. BlackRock Group LTD raised its position in shares of Brown & Brown by 6.0% in the first quarter. BlackRock Group LTD now owns 285,933 shares of the company’s stock worth $10,238,000 after buying an additional 16,249 shares during the period. BlackRock Inc. raised its position in shares of Brown & Brown by 19.9% in the first quarter. BlackRock Inc. now owns 117,102 shares of the company’s stock worth $4,192,000 after buying an additional 19,465 shares during the period. Finally, Teachers Advisors Inc. raised its position in shares of Brown & Brown by 4.0% in the first quarter. Teachers Advisors Inc. now owns 116,578 shares of the company’s stock worth $4,173,000 after buying an additional 4,494 shares during the period. Hedge funds and other institutional investors own 72.81% of the company’s stock.

In other news, EVP Anthony T. Strianese sold 1,444 shares of the stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $37.02, for a total transaction of $53,456.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Richard Freebourn sold 27,569 shares of the stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $35.69, for a total value of $983,937.61. The disclosure for this sale can be found here. Insiders own 17.49% of the company’s stock.

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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