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Keefe, Bruyette & Woods Adjusts EPS For Brown & Brown


In a report published Friday, Keefe, Bruyette & Woods analyst Meyer Shields reiterated an Outperform rating and $35.00 price target on Brown & Brown (NYSE: BRO).

In the report, Keefe, Bruyette & Woods noted, “On Wednesday, Brown & Brown announced the sale of some assets of reinsurance brokerage subsidiary Axiom Re to Beach Re Limited as part of its strategy to exit reinsurance brokerage (which implies additional divestitures). Brown & Brown expects an after-tax loss of $0.22/share (which we view as non-recurring) from the sale in 4Q14. We're lowering our 2014E EPS by $0.02 to $1.60, and our 2015E and 2016E EPS by $0.05 each to $1.85 and $2.05, respectively, to reflect this sale and 4Q14's lower-than-expected acquisition activity. We maintain our Outperform rating.”

Brown & Brown closed on Wednesday at $32.91.

Latest Ratings for BRO

Oct 2019MaintainsOutperform
Oct 2019MaintainsBuy
Oct 2019MaintainsUnderweight

View More Analyst Ratings for BRO
View the Latest Analyst Ratings

Posted-In: Bruyette & Woods Keefe Meyer ShieldsAnalyst Color Reiteration Analyst Ratings


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