Barclays Maintains Brown & Brown to Underweight with Price Target $33.00

Brokerage firm Barclays Maintains its rating on Brown & Brown(NYSE:BRO). In a research note issued to the investors, the brokerage major Raises the price-target to $33.00 per share. The shares have been rated Underweight. The rating by Barclays was issued on Sep 30, 2016.

In a different note, On Jul 20, 2016, Deutsche Bank said it Maintains its rating on Brown & Brown. In the research note, the firm Raises the price-target to $39.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 19, 2016, Barclays said it Maintains its rating on Brown & Brown. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Underweight’ by the firm.

Brown & Brown (BRO) made into the market gainers list on Tuesdays trading session with the shares advancing 1.16% or 0.43 points. Due to strong positive momentum, the stock ended at $37.56, which is also near the day’s high of $37.59. The stock began the session at $37.15 and the volume stood at 12,11,040 shares. The 52-week high of the shares is $38.113 and the 52 week low is $28.41. The company has a current market capitalization of $5,251 M and it has 13,98,11,090 shares in outstanding.

Brown & Brown(BRO) last announced its earnings results on Jul 18, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $446.50M. Analysts had an estimated revenue of $439.88M. Earnings per share were $0.49. Analysts had estimated an EPS of $0.44.

Several Insider Transactions has been reported to the SEC. On Sep 21, 2016, Robert W Lloyd (EVP, Secy, General Counsel) sold 2,971 shares at $37.31 per share price.Also, On Jul 1, 2016, Anthony T Strianese (EVP and Pres. Wholesale Div.) sold 1,444 shares at $37.02 per share price.On Jun 27, 2016, Richard Freebourn (EVP and People Officer) sold 27,569 shares at $35.69 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.

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