Brown & Brown (BRO) was Initiated by JP Morgan to “Underweight”. JP Morgan advised their investors in a research report released on Jun 28, 2016.
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.
Brown & Brown closed down -0.79 points or -2.22% at $34.82 with 8,97,920 shares getting traded on Monday. Post opening the session at $35.28, the shares hit an intraday low of $34.695 and an intraday high of $35.31 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jun 27, 2016, Richard Freebourn (EVP and People Officer) sold 27,569 shares at $35.69 per share price. According to the SEC, on May 26, 2016, Anthony T Strianese (EVP and Pres. Wholesale Div.) sold 2,700 shares at $35.64 per share price. On Mar 15, 2016, Jerome Scott Penny (Chief Acquisitions Officer) sold 15,000 shares at $33.39 per share price, according to the Form-4 filing with the securities and exchange commission.
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.