Langen Mcalenn Brokers Reduce Earnings Estimates for Brown & Brown (BRO)

Brown & Brown (NYSE:BRO) – Analysts at Langen Mcalenn reduced their Q2 2018 earnings estimates for shares of Brown & Brown in a research report issued to clients and investors on Monday, March 12th, Zacks Investment Research reports. Langen Mcalenn analyst R. Glasspiegel now expects that the financial services provider will post earnings per share of $0.55 for the quarter, down from their prior estimate of $0.64. Langen Mcalenn has a “Buy” rating on the stock. Langen Mcalenn also issued estimates for Brown & Brown’s Q1 2019 earnings at $0.64 EPS, Q2 2019 earnings at $0.61 EPS and Q3 2019 earnings at $0.80 EPS.

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Other research analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated a “hold” rating and set a $26.50 price objective on shares of Brown & Brown in a report on Wednesday, January 24th. Zacks Investment Research raised shares of Brown & Brown from a “sell” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday. Morgan Stanley raised their price target on shares of Brown & Brown from $12.50 to $25.00 and gave the company an “underweight” rating in a research report on Tuesday. ValuEngine lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Thursday, March 29th. Finally, Deutsche Bank dropped their price target on shares of Brown & Brown from $52.00 to $26.00 and set a “hold” rating on the stock in a research report on Thursday, March 29th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $24.94.

Shares of NYSE BRO traded down $0.37 during mid-day trading on Wednesday, reaching $25.09. 1,261,662 shares of the company’s stock traded hands, compared to its average volume of 1,240,140. The stock has a market capitalization of $7,016.81, a P/E ratio of 26.14, a P/E/G ratio of 2.06 and a beta of 0.69. Brown & Brown has a 1-year low of $20.66 and a 1-year high of $26.93. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $474.30 million during the quarter, compared to analysts’ expectations of $449.89 million. Brown & Brown had a net margin of 21.24% and a return on equity of 11.19%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share.

In other Brown & Brown news, Chairman Hyatt J. Brown sold 35,561 shares of Brown & Brown stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $53.13, for a total value of $1,889,355.93. Following the sale, the chairman now owns 27,957 shares of the company’s stock, valued at $1,485,355.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Hyatt J. Brown sold 140,000 shares of Brown & Brown stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $52.85, for a total transaction of $7,399,000.00. Following the completion of the sale, the chairman now directly owns 27,957 shares in the company, valued at approximately $1,477,527.45. The disclosure for this sale can be found here. Insiders own 17.12% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Simplex Trading LLC purchased a new position in shares of Brown & Brown in the fourth quarter worth about $101,000. Cutler Group LP increased its stake in shares of Brown & Brown by 212.2% in the fourth quarter. Cutler Group LP now owns 2,482 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 1,687 shares in the last quarter. Invictus RG purchased a new position in shares of Brown & Brown in the third quarter worth about $248,000. Wolverine Trading LLC purchased a new position in shares of Brown & Brown in the third quarter worth about $273,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Brown & Brown by 50.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,519 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 2,197 shares in the last quarter. 72.25% of the stock is currently owned by institutional investors and hedge funds.

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Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.

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

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