A Director at Brown & Brown (NYSE: BRO) is Buying Shares

By Carrie Williams

Today, a Director at Brown & Brown (BROResearch Report), Palmer Proctor, bought shares of BRO for $110K.

Following Palmer Proctor’s last BRO Buy transaction on July 26, 2019, the stock climbed by 18.3%. Following this transaction Palmer Proctor’s holding in the company was increased by 5.57% to a total of $2.05 million.

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Based on Brown & Brown’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $726 million and quarterly net profit of $139 million. In comparison, last year the company earned revenue of $598 million and had a net profit of $96.78 million. The company has a one-year high of $56.22 and a one-year low of $42.72. Currently, Brown & Brown has an average volume of 925.52K.

Based on 6 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $58.00, reflecting a -6.3% downside.

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Brown & Brown, Inc. is an insurance agency, wholesale brokerage, insurance programs and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail; National Programs; Wholesale Brokerage; and Services. The Retail Segment receives fees in lieu of commissions. The National Programs segment acts as a managing general agent and provides professional liability and related package products for certain professionals, a range of insurance products for individuals, flood coverage, and targeted products and services designated for specific industries, trade groups, governmental entities and market niches. The Wholesale Brokerage segment markets and sells excess and surplus commercial and personal lines insurance, primarily through independent agents and brokers, as well as company’s retail agents. The Services segment provides insurance-related services, including third-party claims administration and comprehensive medical utilization management services in both the workers’ compensation and all-lines liability arenas, as well as medicare Set-aside services, social security disability and medicare benefits advocacy services and claims adjusting services. The company was founded by J. Adrian Brown and Charles Covington Owen in 1939 and is headquartered in Daytona Beach, FL.