Brown & Brown Inc. (NYSE:BRO) – Langen Mcalenn dropped their FY2017 earnings per share (EPS) estimates for shares of Brown & Brown in a note issued to investors on Thursday. Langen Mcalenn analyst R. Byrnes now expects that the firm will post earnings per share of $1.95 for the year, down from their prior forecast of $1.96.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Brown & Brown from a “sell” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, June 28th. BMO Capital Markets set a $38.00 target price on shares of Brown & Brown and gave the company a “hold” rating in a report on Wednesday, July 20th. Compass Point boosted their target price 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. Royal Bank Of Canada boosted their target price on shares of Brown & Brown from $35.00 to $37.00 and gave the company a “sector perform” rating in a report on Wednesday, July 20th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $37.00 price target (up from $35.00) on shares of Brown & Brown in a research note on Wednesday, July 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Brown & Brown presently has an average rating of “Hold” and an average price target of $35.00.

Shares of Brown & Brown (NYSE:BRO) traded up 1.05% during midday trading on Monday, reaching $37.61. 480,473 shares of the company traded hands. The firm has a market capitalization of $5.26 billion, a PE ratio of 21.01 and a beta of 1.04. Brown & Brown has a 12-month low of $28.41 and a 12-month high of $38.11. The company has a 50-day moving average of $36.99 and a 200 day moving average of $36.00.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, July 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 earned $446.50 million during the quarter, compared to the consensus estimate of $439.70 million. During the same period last year, the business posted $0.43 EPS.

In other Brown & Brown news, EVP Richard Freebourn sold 27,569 shares of the business’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $35.69, for a total value of $983,937.61. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Anthony T. Strianese sold 1,444 shares of the business’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $37.02, for a total transaction of $53,456.88. The disclosure for this sale can be found here. 17.49% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Carnick & Kubik LLC bought a new position in Brown & Brown during the first quarter worth $158,000. Findlay Park Partners LLP boosted its position in 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 last quarter. BlackRock Group LTD boosted its position in 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 last quarter. BlackRock Inc. boosted its position in 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 last quarter. Finally, Teachers Advisors Inc. boosted its position in 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 last quarter. Hedge funds and other institutional investors own 72.81% 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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