Insider Analysis: Richard Freebourn Unloaded 25000 shares of Brown & Brown, Inc. (NYSE:BRO) in an Insider Trade

November 24, 2016 - By Hazel Jackson

Insider Analysis: Richard Freebourn Unloaded 25000 shares of Brown & Brown, Inc. (NYSE:BRO) in an Insider Trade

Richard Freebourn Insider Sell

Insider deal totalling a total of $1,072,500 USD was revealed online in a legal form submitted to the Security Exchange Commission on 23/11/2016. According to which, Richard Freebourn, the EVP and People Officer of Brown & Brown Inc also an insider of the Florida-based company had sold precisely 25,000 shares – ( at $42.9 per every share ). Currently, Mr. Richard, has rights to 17,528 shares, which accounts for 0.01% of the Company’s market capitalization.

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

Out of 14 analysts covering Brown & Brown (NYSE:BRO), 0 rate it a “Buy”, 4 “Sell”, while 10 “Hold”. This means 0 are positive. $40 is the highest target while $28 is the lowest. The $35 average target is -19.13% below today’s ($43.28) stock price. Brown & Brown has been the topic of 23 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The rating was initiated by JP Morgan with “Underweight” on Tuesday, June 28. The firm earned “Neutral” rating on Thursday, January 7 by Suntrust Robinson. Keefe Bruyette & Woods maintained it with “Market Perform” rating and $33 target price in Wednesday, January 13 report. The company was upgraded on Monday, September 7 by Zacks. Compass Point maintained it with “Neutral” rating and $37 target price in Wednesday, July 20 report. The rating was downgraded by Morgan Stanley to “Underweight” on Wednesday, January 27. Wells Fargo downgraded Brown & Brown, Inc. (NYSE:BRO) on Wednesday, October 14 to “Market Perform” rating. Barclays Capital downgraded Brown & Brown, Inc. (NYSE:BRO) on Thursday, January 7 to “Underweight” rating. The firm has “Sector Perform” rating by RBC Capital Markets given on Wednesday, October 21. The firm has “Neutral” rating given on Tuesday, February 16 by Citigroup.

Insitutional Activity: The institutional sentiment increased to 1.42 in Q2 2016. Its up 0.16, from 1.26 in 2016Q1. The ratio increased, as 23 funds sold all Brown & Brown, Inc. shares owned while 64 reduced positions. 18 funds bought stakes while 92 increased positions. They now own 100.91 million shares or 1.34% less from 102.28 million shares in 2016Q1.

D E Shaw And holds 0% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 57,343 shares. Chilton Ltd Limited Liability Company holds 0.01% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 6,252 shares. Capstone Asset Mngmt Company last reported 0.01% of its portfolio in the stock. Blackrock Fund Advisors owns 4.10 million shares or 0.03% of their US portfolio. Guggenheim, a Illinois-based fund reported 23,304 shares. Oregon Public Employees Retirement Fund has 39,279 shares for 0.03% of their US portfolio. Wfg Advsr L P accumulated 552 shares or 0.01% of the stock. Manufacturers Life Ins The accumulated 157,589 shares or 0.01% of the stock. Hsbc Public Ltd Liability Corp has 106,708 shares for 0.01% of their US portfolio. Moreover, Pnc Service Gp Inc Inc has 0% invested in Brown & Brown, Inc. (NYSE:BRO) for 30,140 shares. Royal London Asset Management owns 40,792 shares or 0.02% of their US portfolio. Buckhead Cap Mngmt Limited Liability holds 0.59% or 87,115 shares in its portfolio. Fmr Lc, a Massachusetts-based fund reported 5.49M shares. Thompson Siegel And Walmsley Limited Liability Corp has invested 0.49% of its portfolio in Brown & Brown, Inc. (NYSE:BRO). First Lp holds 0.02% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 180,619 shares.

Insider Transactions: Since May 25, 2016, the stock had 0 insider buys, and 3 sales for $1.24 million net activity. Another trade for 2,971 shares valued at $110,863 was sold by LLOYD ROBERT W. STRIANESE ANTHONY T sold 1,444 shares worth $53,457. FREEBOURN RICHARD sold $1.07M worth of stock or 25,000 shares.

The stock increased 1.50% or $0.64 during the last trading session, hitting $43.28. About 834,832 shares traded hands. Brown & Brown, Inc. (NYSE:BRO) has risen 24.31% since April 21, 2016 and is uptrending. It has outperformed by 18.99% the S&P500.

Brown & Brown, Inc. is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The company has a market cap of $6.12 billion. The Firm markets and sells insurance services and products in the property, casualty and employee benefits areas. It has a 23.28 P/E ratio. It provides clients with non-investment insurance contracts, as well as other targeted, customized risk management services and products.

According to Zacks Investment Research, “Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third party administration, managed health care, and Medicare set-aside services and programs. Providing service to business, public entity, individual, trade and professional association clients nationwide, the Company is ranked by Business Insurance magazine as the United States’ sixth largest independent insurance intermediary.”

Analysts await Brown & Brown, Inc. (NYSE:BRO) to report earnings on January, 23. They expect $0.41 earnings per share, 0.00% or $0.00 from last year’s $0.41 per share. BRO’s profit will be $57.98 million for 26.39 P/E if the $0.41 EPS becomes a reality. After $0.52 actual earnings per share reported by Brown & Brown, Inc. for the previous quarter, Wall Street now forecasts -21.15% negative EPS growth.

More news for Brown & Brown, Inc. (NYSE:BRO) were recently published by: Businessinsurance.com, which released: “Top insurance brokers: Brown & Brown Inc.” on July 20, 2016. Zacks.com‘s article titled: “Brown amp; Brown Scales 52-Week High on Strong Q3 Results” and published on November 23, 2016 is yet another important article.

BRO Company Profile

Brown & Brown, Inc., incorporated on January 2, 1959, is a diversified insurance agency providing wholesale brokerage and insurance programs and services. The Firm operates in four divisions: Retail Division, National Programs Division, Wholesale Brokerage Division, and Services Division. The Retail Division provides a range of insurance services and products 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 services and products to specific industries, trade groups, public entities, and market niches. The Wholesale Brokerage Division markets and sells excess and surplus commercial and personal insurance, and reinsurance, primarily through independent agents and brokers. The Services Division provides clients with third-party claims administration, consulting for the workers’ compensation insurance market, comprehensive medical utilization management services in both workers’ compensation and all-lines liability arenas, Medicare Secondary Payer statute compliance-related services, Social Security disability and Medicare benefits advocacy services, and catastrophe claims adjusting services. In January 2014, the Company announced that its subsidiary has acquired certain assets of ICA, Inc. In May 2014, the Company’s subsidiary, Brown & Brown of Kentucky, Inc., has acquired certain assets of Agency Management Corporation and Recreation Protection Management, Inc. In May 2014, the Company announced that Axiom Re, LP, an indirect subsidiary has acquired certain assets of Axia Strategies, Inc. In May 2014, Brown & Brown Inc completed the acquisition of The Wright Insurance Group, LLC ( TWIG ).

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