How Analysts Feel About Brown & Brown, Inc. (BRO) After Forming Bullish Wedge Up?

September 16, 2018 - By Margaret Guttierez

Brown & Brown, Inc. (NYSE:BRO) Logo

Investors sentiment decreased to 1.25 in Q2 2018. Its down 6.10, from 7.35 in 2018Q1. It dropped, as 30 investors sold Brown & Brown, Inc. shares while 78 reduced holdings. 37 funds opened positions while 98 raised stakes. 195.64 million shares or 49.09% less from 384.28 million shares in 2018Q1 were reported.
Shelton Capital Management owns 16,360 shares. The New York-based Ogorek Anthony Joseph Adv has invested 0.01% in Brown & Brown, Inc. (NYSE:BRO). Alliancebernstein Limited Partnership holds 0.01% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 575,670 shares. Millennium Mngmt Ltd Liability accumulated 1.10 million shares. Moreover, Aperio Grp Inc has 0.01% invested in Brown & Brown, Inc. (NYSE:BRO) for 54,315 shares. Profund Advsr Ltd Llc, Maryland-based fund reported 28,160 shares. Burgundy Asset reported 0.75% stake. Massmutual Tru Co Fsb Adv stated it has 0% of its portfolio in Brown & Brown, Inc. (NYSE:BRO). 1,120 were reported by Shine Inv Advisory Inc. Castleark Mgmt Ltd Liability holds 238,050 shares. Virginia Retirement Et Al stated it has 63,000 shares. Aviva Public Ltd Liability Com stated it has 116,138 shares. Geode Mngmt Limited Liability reported 0.02% in Brown & Brown, Inc. (NYSE:BRO). 2.57M were accumulated by Century Companies. Credit Suisse Ag reported 0.01% stake.

The stock of Brown & Brown, Inc. (BRO) formed an up wedge with $32.00 target or 3.00 % above today’s $31.07 share price. The 8 months wedge indicates low risk for the $8.68B company. If the $32.00 price target is reached, the company will be worth $260.31M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.86% or $0.27 during the last trading session, reaching $31.07. About 1.64 million shares traded or 80.51% up from the average. Brown & Brown, Inc. (NYSE:BRO) has risen 33.21% since September 16, 2017 and is uptrending. It has outperformed by 17.59% the S&P500.

Analysts await Brown & Brown, Inc. (NYSE:BRO) to report earnings on October, 15. They expect $0.34 earnings per share, up 30.77 % or $0.08 from last year’s $0.26 per share. BRO’s profit will be $94.95 million for 22.85 P/E if the $0.34 EPS becomes a reality. After $0.26 actual earnings per share reported by Brown & Brown, Inc. for the previous quarter, Wall Street now forecasts 30.77 % EPS growth.

Brown & Brown, Inc. (NYSE:BRO) Ratings Coverage

Among 9 analysts covering Brown \u0026 Brown (NYSE:BRO), 2 have Buy rating, 3 Sell and 4 Hold. Therefore 22% are positive. Brown \u0026 Brown had 13 analyst reports since March 28, 2018 according to SRatingsIntel. The stock of Brown & Brown, Inc. (NYSE:BRO) earned “Underweight” rating by Morgan Stanley on Tuesday, April 3. The stock of Brown & Brown, Inc. (NYSE:BRO) earned “Sell” rating by Citigroup on Tuesday, May 8. As per Thursday, April 26, the company rating was maintained by Raymond James. On Thursday, March 29 the stock rating was maintained by Deutsche Bank with “Hold”. Morgan Stanley maintained it with “Underweight” rating and $26 target in Tuesday, May 29 report. Morgan Stanley maintained the stock with “Underweight” rating in Wednesday, March 28 report. As per Thursday, July 12, the company rating was maintained by Citigroup. SunTrust maintained the shares of BRO in report on Tuesday, April 24 with “Buy” rating. On Tuesday, August 14 the stock rating was maintained by Morgan Stanley with “Underweight”. The stock has “Hold” rating by RBC Capital Markets on Tuesday, April 24.

Another recent and important Brown & Brown, Inc. (NYSE:BRO) news was published by Seekingalpha.com which published an article titled: “Brown & Brown acquires Finance & Insurance Resources” on September 05, 2018.

Brown & Brown, Inc. markets and sells insurance services and products primarily in the United States, as well as in England, Bermuda, and the Cayman Islands. The company has market cap of $8.68 billion. The Company’s Retail segment provides 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; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management and loss control surveys and analysis, consultation, and claims processing services. It has a 20.62 P/E ratio. The companyÂ’s National Programs segment offers professional liability and related package insurance products for professional groups comprising dentists, oral surgeons, hygienists, lawyers, certified public accountants, optometrists, opticians, ophthalmologists, insurance agents, financial advisors, registered representatives, securities broker-dealers, benefit administrators, real estate brokers, real estate title agents, and escrow agents, as well as supplementary insurance products related to weddings, events, medical facilities, and cyber liabilities.

Brown & Brown, Inc. (NYSE:BRO) Institutional Positions Chart

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