Traders Are Bullish Brown & Brown, Inc. (BRO) After The Stock Formed Bullish Wedge Up Pattern

September 16, 2018 - By Jenna Rose

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 fall, 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.
Kbc Group Incorporated Nv reported 165,565 shares. Metropolitan Life Insurance New York reported 66,812 shares. State Teachers Retirement System stated it has 361,036 shares. Manufacturers Life Insur The reported 0.01% of its portfolio in Brown & Brown, Inc. (NYSE:BRO). Swiss Commercial Bank reported 408,900 shares. Mutual Of America Capital Mngmt Ltd Llc, a New York-based fund reported 213,435 shares. State Of Wisconsin Invest Board accumulated 44,951 shares. 78,854 are held by Richard Bernstein Advisors Limited Co. Arizona State Retirement System has invested 0.04% in Brown & Brown, Inc. (NYSE:BRO). Millennium Management Limited Liability Com holds 0.04% in Brown & Brown, Inc. (NYSE:BRO) or 1.10 million shares. Sei Investments holds 0.01% or 101,666 shares. Retirement System Of Alabama reported 0.04% of its portfolio in Brown & Brown, Inc. (NYSE:BRO). Captrust Fincl Advisors holds 0.04% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 24,000 shares. The New York-based Ny State Common Retirement Fund has invested 0.04% in Brown & Brown, Inc. (NYSE:BRO). Jefferies Group Incorporated Lc invested in 0% or 15,003 shares.

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. As per Tuesday, April 24, the company rating was maintained by SunTrust. Morgan Stanley maintained the stock with “Underweight” rating in Tuesday, April 3 report. The rating was maintained by Raymond James with “Outperform” on Thursday, April 26. The rating was maintained by Morgan Stanley with “Underweight” on Tuesday, August 14. The firm earned “Hold” rating on Tuesday, April 24 by RBC Capital Markets. The stock of Brown & Brown, Inc. (NYSE:BRO) has “Underweight” rating given on Tuesday, May 29 by Morgan Stanley. The stock of Brown & Brown, Inc. (NYSE:BRO) has “Underweight” rating given on Monday, April 2 by Barclays Capital. The firm has “Underweight” rating given on Wednesday, March 28 by Morgan Stanley. The firm earned “Hold” rating on Thursday, March 29 by Deutsche Bank. On Thursday, July 12 the stock rating was maintained by Citigroup with “Sell”.

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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