Brown & Brown, Inc. (NYSE:BRO) – Research analysts at Langen Mcalenn lowered their Q3 2017 earnings estimates for Brown & Brown in a report released on Monday. Langen Mcalenn analyst R. Glasspiegel now forecasts that the financial services provider will post earnings per share of $0.50 for the quarter, down from their previous estimate of $0.51.

A number of other research firms have also commented on BRO. BidaskClub raised Brown & Brown from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Brown & Brown in a research report on Tuesday, August 15th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $43.00 price target on shares of Brown & Brown in a research report on Friday, August 18th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $44.00 price target on shares of Brown & Brown in a research report on Tuesday, June 13th. Finally, Zacks Investment Research lowered Brown & Brown from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $43.43.

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Shares of Brown & Brown (BRO) opened at 48.94 on Wednesday. The firm’s 50-day moving average price is $46.79 and its 200 day moving average price is $44.06. The firm has a market cap of $6.85 billion, a P/E ratio of 26.17 and a beta of 0.79. Brown & Brown has a 12-month low of $36.05 and a 12-month high of $49.13.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 17th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The firm had revenue of $466.30 million for the quarter, compared to the consensus estimate of $465.48 million. Brown & Brown had a return on equity of 11.10% and a net margin of 14.52%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Brown & Brown by 5,821.6% in the 1st quarter. BlackRock Inc. now owns 9,491,726 shares of the financial services provider’s stock valued at $395,994,000 after buying an additional 9,331,437 shares during the last quarter. Renaissance Technologies LLC raised its position in Brown & Brown by 2,090.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,086,300 shares of the financial services provider’s stock valued at $45,320,000 after buying an additional 1,036,700 shares during the last quarter. Vanguard Group Inc. raised its position in Brown & Brown by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 10,758,271 shares of the financial services provider’s stock valued at $448,836,000 after buying an additional 745,912 shares during the last quarter. Victory Capital Management Inc. raised its position in Brown & Brown by 31.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,091,303 shares of the financial services provider’s stock valued at $90,072,000 after buying an additional 499,043 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Brown & Brown by 7.3% in the 2nd quarter. Wells Fargo & Company MN now owns 5,673,614 shares of the financial services provider’s stock valued at $244,362,000 after buying an additional 388,294 shares during the last quarter. 72.18% of the stock is currently owned by institutional investors.

In other news, EVP Anthony T. Strianese sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $44.59, for a total transaction of $445,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 16.98% of the company’s stock.

About Brown & Brown

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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