Brown & Brown, Inc. (NYSE:BRO) – Equities research analysts at Langen Mcalenn raised their FY2018 EPS estimates for Brown & Brown in a research note issued on Tuesday. Langen Mcalenn analyst R. Glasspiegel now anticipates that the financial services provider will post earnings of $2.52 per share for the year, up from their previous forecast of $2.05. Langen Mcalenn has a “Buy” rating on the stock.
Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 16th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The firm had revenue of $475.60 million during the quarter, compared to analysts’ expectations of $475.13 million. Brown & Brown had a return on equity of 10.99% and a net margin of 14.66%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share.
Brown & Brown (NYSE BRO) traded down $0.22 during mid-day trading on Friday, reaching $52.36. The company had a trading volume of 806,600 shares, compared to its average volume of 446,558. The stock has a market capitalization of $7,329.85, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79. Brown & Brown has a 12-month low of $41.10 and a 12-month high of $52.86. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.97 and a current ratio of 0.97.
In other Brown & Brown news, Director Richard Silas sold 50,000 shares of Brown & Brown stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $0.83, for a total transaction of $41,500.00. Insiders own 16.98% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Brown & Brown by 4.4% during the second quarter. Vanguard Group Inc. now owns 11,226,387 shares of the financial services provider’s stock worth $483,521,000 after buying an additional 468,116 shares during the period. BlackRock Inc. increased its holdings in shares of Brown & Brown by 2.2% in the second quarter. BlackRock Inc. now owns 9,704,740 shares of the financial services provider’s stock valued at $417,982,000 after purchasing an additional 213,014 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Brown & Brown by 1.8% in the third quarter. First Eagle Investment Management LLC now owns 7,263,759 shares of the financial services provider’s stock valued at $350,041,000 after purchasing an additional 130,278 shares during the period. State Street Corp increased its holdings in shares of Brown & Brown by 1.7% in the second quarter. State Street Corp now owns 5,807,711 shares of the financial services provider’s stock valued at $250,140,000 after purchasing an additional 98,674 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Brown & Brown by 2.3% in the third quarter. Wells Fargo & Company MN now owns 5,804,446 shares of the financial services provider’s stock valued at $279,717,000 after purchasing an additional 130,832 shares during the period. 71.95% of the stock is currently owned by institutional investors.
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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.
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