Cacti Asset Management buys $730,907 stake in Brown & Brown (BRO)

Brown & Brown (BRO) : Cacti Asset Management scooped up 1,351 additional shares in Brown & Brown during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 1, 2016. The investment management firm now holds a total of 19,701 shares of Brown & Brown which is valued at $730,907.Brown & Brown makes up approximately 0.08% of Cacti Asset Management’s portfolio.

Brown & Brown closed down -0.37 points or -0.99% at $37.1 with 8,16,796 shares getting traded on Friday. Post opening the session at $37.46, the shares hit an intraday low of $36.925 and an intraday high of $37.5 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Brown & Brown reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 18, 2016. Analyst had a consensus of $0.42. The company had revenue of $424.20 million for the quarter, compared to analysts expectations of $425.11 million. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Brown & Brown. Brown & Brown was Initiated by JP Morgan to “Underweight” on Jun 28, 2016.

Brown & Brown Inc. is a diversified insurance agency wholesale brokerage insurance programs and service organization. The Company markets and sells insurance products and services in the property casualty and employee benefits areas. The Company’s has four operating segments: the Retail Division provides insurance products and services 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 products and services to industries trade groups public entities and market niches; the Wholesale Brokerage Division markets and sells excess and surplus commercial and personal insurance and reinsurance through agents and brokers; and the Services Division provides customers with thirdparty claims administration consulting for the workers compensation insurance market comprehensive medical utilization management services.

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