Insider Trading Report: Brown & Brown (BRO)

Palmer Proctor, a director at Brown & Brown Inc (BRO), recently bought 2,000 shares. The buy increased his stake by over 5.5 percent, and came to a total purchase price of just under $110,000.

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  • This is the second insider buy of the year, following a 10,000 share buy from another director in January. That buy is already up 26 percent. Overall, company insiders in the c-suite have been net sellers over the past 3 years.

    Overall, company insiders own over 17 percent of company shares.

    The insurance company has been a fair performer over the past few years, seeing 31 percent earnings growth and 16 percent revenue growth, with nearly a 20 percent profit margin. The numbers are a sign of solid underwriting discipline and profitability.

    Shares are up about 19 percent in the past year, rising at about half the rate of the S&P 500, but the rate has increased in recent months.

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  • Action to take: With a strong uptrend in place, investors may like shares. They yield about 0.7 percent right now and have had some slight growth over the past year, a good sign that the company is looking out for shareholders.

    For traders, the December $55 calls are an at-the-money trade. Last going with a bid/ask spread near $2.50, traders can potentially see a double on the trade if the recent strong uptrend in shares continues.

     

    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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