Is Brown & Brown, Inc. (BRO) a Buy? The Stock Formed Wedge Up Chart Pattern

September 16, 2018 - By Hannah Black

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 is negative, 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.
Signaturefd Limited Liability owns 286 shares for 0% of their portfolio. Bb&T reported 122,852 shares. Virginia Retirement System Et Al has invested 0.02% in Brown & Brown, Inc. (NYSE:BRO). Liberty Mutual Grp Asset accumulated 0.03% or 45,657 shares. Invesco Ltd holds 0.02% or 2.33 million shares. Goldman Sachs Gp invested 0.01% in Brown & Brown, Inc. (NYSE:BRO). Raymond James Assocs holds 1.16M shares or 0.05% of its portfolio. Connor Clark & Lunn Invest Mngmt, British Columbia – Canada-based fund reported 8,100 shares. Vaughan Nelson Inv Limited Partnership has 0.95% invested in Brown & Brown, Inc. (NYSE:BRO). Meeder Asset Incorporated invested in 0% or 11,242 shares. Ameritas Invest Prns invested 0.09% of its portfolio in Brown & Brown, Inc. (NYSE:BRO). 531,953 were accumulated by Rhumbline Advisers. Amalgamated Bankshares owns 0.03% invested in Brown & Brown, Inc. (NYSE:BRO) for 46,566 shares. California State Teachers Retirement Sys holds 0.02% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 373,317 shares. Southeast Asset Advsrs has invested 0.21% in Brown & Brown, Inc. (NYSE:BRO).

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 EPS, up 30.77 % or $0.08 from last year’s $0.26 per share. BRO’s profit will be $94.95M for 22.85 P/E if the $0.34 EPS becomes a reality. After $0.26 actual EPS 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. As per Tuesday, August 14, the company rating was maintained by Morgan Stanley. The rating was maintained by SunTrust on Tuesday, April 24 with “Buy”. The stock has “Underweight” rating by Barclays Capital on Monday, April 2. The firm has “Sell” rating given on Thursday, July 12 by Citigroup. The stock of Brown & Brown, Inc. (NYSE:BRO) has “Underweight” rating given on Tuesday, May 29 by Morgan Stanley. Raymond James maintained Brown & Brown, Inc. (NYSE:BRO) on Thursday, April 26 with “Outperform” rating. The stock of Brown & Brown, Inc. (NYSE:BRO) earned “Underweight” rating by Morgan Stanley on Wednesday, March 28. Morgan Stanley maintained the shares of BRO in report on Tuesday, April 3 with “Underweight” rating. The rating was maintained by Deutsche Bank with “Hold” on Thursday, March 29. The firm has “Hold” rating given on Tuesday, April 24 by RBC Capital Markets.

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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