Brown & Brown, Inc. (NYSE:BRO) – Analysts at William Blair cut their Q3 2017 earnings per share (EPS) estimates for Brown & Brown in a research note issued on Wednesday. William Blair analyst A. Klauber now forecasts that the financial services provider will post earnings of $0.48 per share for the quarter, down from their prior forecast of $0.50.

Other research analysts have also issued reports about the company. BidaskClub raised Brown & Brown from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada reissued a “hold” rating and issued a $44.00 price objective on shares of Brown & Brown in a research report on Tuesday, June 13th. SunTrust Banks, Inc. reissued a “hold” rating and issued a $46.00 price objective (up from $44.00) on shares of Brown & Brown in a research report on Friday, May 19th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $43.00 price objective on shares of Brown & Brown in a research report on Friday, August 18th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Brown & Brown in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $43.43.

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Brown & Brown (BRO) opened at 46.03 on Friday. Brown & Brown has a 1-year low of $36.04 and a 1-year high of $46.12. The firm has a 50-day moving average price of $44.31 and a 200-day moving average price of $43.29. The firm has a market capitalization of $6.44 billion, a PE ratio of 24.61 and a beta of 0.77.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 17th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Brown & Brown had a return on equity of 11.10% and a net margin of 14.52%. The firm had revenue of $466.30 million during the quarter, compared to analysts’ expectations of $465.48 million. During the same period in the previous year, the firm earned $0.47 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 9th were paid a $0.135 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.54 annualized dividend and a dividend yield of 1.17%. Brown & Brown’s dividend payout ratio is presently 29.03%.

In other news, EVP Anthony T. Strianese sold 18,870 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $44.49, for a total value of $839,526.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 16.98% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Glen Harbor Capital Management LLC grew its stake in shares of Brown & Brown by 2.3% in the 1st quarter. Glen Harbor Capital Management LLC now owns 3,632 shares of the financial services provider’s stock valued at $152,000 after buying an additional 80 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Brown & Brown by 1.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,529 shares of the financial services provider’s stock valued at $410,000 after buying an additional 105 shares during the period. Tyers Asset Management LLC grew its stake in shares of Brown & Brown by 2.3% in the 1st quarter. Tyers Asset Management LLC now owns 4,994 shares of the financial services provider’s stock valued at $208,000 after buying an additional 110 shares during the period. World Asset Management Inc grew its stake in shares of Brown & Brown by 1.7% in the 2nd quarter. World Asset Management Inc now owns 7,326 shares of the financial services provider’s stock valued at $316,000 after buying an additional 120 shares during the period. Finally, Pzena Investment Management LLC grew its stake in shares of Brown & Brown by 2.8% in the 2nd quarter. Pzena Investment Management LLC now owns 5,087 shares of the financial services provider’s stock valued at $219,000 after buying an additional 138 shares during the period. Institutional investors own 72.18% 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 its customers with non-investment insurance contracts, as well as other customized risk management products and services.

Earnings History and Estimates for Brown & Brown (NYSE:BRO)

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