The stock of Brown & Brown, Inc. (NYSE:BRO) reached all time high today, Nov, 30 and still has $45.55 target or 5.00% above today’s $43.38 share price. This indicates more upside for the $6.09 billion company. This technical setup was reported by Barchart.com. If the $45.55 PT is reached, the company will be worth $304.50M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 107,934 shares traded hands. Brown & Brown, Inc. (NYSE:BRO) has risen 21.88% since April 27, 2016 and is uptrending. It has outperformed by 16.65% the S&P500.
Analysts await Brown & Brown, Inc. (NYSE:BRO) to report earnings on January, 23. They expect $0.41 earnings per share, 0.00% or $0.00 from last year’s $0.41 per share. BRO’s profit will be $57.56M for 26.45 P/E if the $0.41 EPS becomes a reality. After $0.52 actual earnings per share reported by Brown & Brown, Inc. for the previous quarter, Wall Street now forecasts -21.15% negative EPS growth.
Brown & Brown, Inc. (NYSE:BRO) Ratings Coverage
Out of 14 analysts covering Brown & Brown (NYSE:BRO), 0 rate it a “Buy”, 4 “Sell”, while 10 “Hold”. This means 0 are positive. Brown & Brown has been the topic of 23 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Citigroup given on Tuesday, February 16. The stock has “Market Perform” rating given by Keefe Bruyette & Woods on Wednesday, January 13. RBC Capital Markets maintained the shares of BRO in a report on Wednesday, July 20 with “Sector Perform” rating. The stock of Brown & Brown, Inc. (NYSE:BRO) earned “Underweight” rating by JP Morgan on Tuesday, June 28. On Wednesday, January 27 the stock rating was maintained by Compass Point with “Neutral”. Suntrust Robinson downgraded the stock to “Neutral” rating in Thursday, January 7 report. Zacks downgraded Brown & Brown, Inc. (NYSE:BRO) on Monday, August 24 to “Hold” rating. The firm has “Hold” rating given on Monday, September 7 by Zacks. On Tuesday, September 1 the stock rating was downgraded by Zacks to “Hold”. The stock of Brown & Brown, Inc. (NYSE:BRO) earned “Underweight” rating by Barclays Capital on Thursday, January 7.
According to Zacks Investment Research, “Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third party administration, managed health care, and Medicare set-aside services and programs. Providing service to business, public entity, individual, trade and professional association clients nationwide, the Company is ranked by Business Insurance magazine as the United States’ sixth largest independent insurance intermediary.”
Insitutional Activity: The institutional sentiment increased to 1.42 in Q2 2016. Its up 0.16, from 1.26 in 2016Q1. The ratio is positive, as 23 funds sold all Brown & Brown, Inc. shares owned while 64 reduced positions. 18 funds bought stakes while 92 increased positions. They now own 100.91 million shares or 1.34% less from 102.28 million shares in 2016Q1.
Tower Limited Liability Corporation (Trc) has invested 0.01% of its portfolio in Brown & Brown, Inc. (NYSE:BRO). The Massachusetts-based Bogle Ltd Partnership De has invested 0.08% in Brown & Brown, Inc. (NYSE:BRO). Buckhead Capital Mngmt Ltd last reported 87,115 shares in the company. Cibc Asset Mngmt, a Ontario – Canada-based fund reported 6,677 shares. Stifel Corporation last reported 0.02% of its portfolio in the stock. The Illinois-based Balyasny Asset Ltd Co has invested 0.13% in Brown & Brown, Inc. (NYSE:BRO). Capstone Asset Management Com holds 0.01% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 11,458 shares. Victory Cap, a Ohio-based fund reported 1.69 million shares. Keybank National Association Oh holds 0.01% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 58,569 shares. Raymond James Na has 11,634 shares for 0.04% of their US portfolio. Comerica Retail Bank last reported 0.03% of its portfolio in the stock. National Bank & Trust Of Montreal Can has 238,483 shares for 0.01% of their US portfolio. Ahl Prns Limited Liability Partnership accumulated 14,703 shares or 0.03% of the stock. Weaver C Barksdale & Associates holds 0.01% or 211 shares in its portfolio. Hancock accumulated 77,204 shares or 0.12% of the stock.
Insider Transactions: Since June 30, 2016, the stock had 0 insider purchases, and 4 insider sales for $1.88 million net activity. FREEBOURN RICHARD had sold 25,000 shares worth $1.07M. $110,863 worth of Brown & Brown, Inc. (NYSE:BRO) was sold by LLOYD ROBERT W. 1,444 Brown & Brown, Inc. (NYSE:BRO) shares with value of $53,457 were sold by STRIANESE ANTHONY T. PENNY JEROME SCOTT sold $639,591 worth of Brown & Brown, Inc. (NYSE:BRO) on Wednesday, November 23.
More recent Brown & Brown, Inc. (NYSE:BRO) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Brown & Brown, Weyerhaeuser and Hope Bancorp” on October 24, 2016. Also Businessinsurance.com published the news titled: “Top insurance brokers: Brown & Brown Inc.” on July 17, 2016. News-Journalonline.com‘s news article titled: “Lydecker, Grippa, 2 other execs exit Brown & Brown” with publication date: July 10, 2016 was also an interesting one.
BRO Company Profile
Brown & Brown, Inc., incorporated on January 2, 1959, is a diversified insurance agency providing wholesale brokerage and insurance programs and services. The Firm operates in four divisions: Retail Division, National Programs Division, Wholesale Brokerage Division, and Services Division. The Retail Division provides a range of insurance services and products to commercial, public entity, professional and individual customers. The National Programs Division provides professional liability and related package products for certain professionals, and markets targeted services and products to specific industries, trade groups, public entities, and market niches. The Wholesale Brokerage Division markets and sells excess and surplus commercial and personal insurance, and reinsurance, primarily through independent agents and brokers. The Services Division provides clients with third-party claims administration, consulting for the workers’ compensation insurance market, comprehensive medical utilization management services in both workers’ compensation and all-lines liability arenas, Medicare Secondary Payer statute compliance-related services, Social Security disability and Medicare benefits advocacy services, and catastrophe claims adjusting services. In January 2014, the Company announced that its subsidiary has acquired certain assets of ICA, Inc. In May 2014, the Company’s subsidiary, Brown & Brown of Kentucky, Inc., has acquired certain assets of Agency Management Corporation and Recreation Protection Management, Inc. In May 2014, the Company announced that Axiom Re, LP, an indirect subsidiary has acquired certain assets of Axia Strategies, Inc. In May 2014, Brown & Brown Inc completed the acquisition of The Wright Insurance Group, LLC ( TWIG ).
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