Ashleigh Rogers
Long/short equity, growth at reasonable price, value, banks

Brown & Brown Looks A Little More Interesting Now, But Not Quite Interesting Enough To Buy Yet

I first wrote about insurance company Brown & Brown (NYSE:BRO) last September when I lamented that despite the company's solid underlying fundamentals, shares were too expensive to get excited about at that time. Since September, the insurance and reinsurance company has basically gone nowhere despite continuing to post good year over year revenue and profitability growth. The company is continuing to benefit from its decentralized business model and acquisition strategy, as both elements help to drive revenues dramatically higher over time. Organic revenues at the firm are more dependent on the state of the property and casualty insurance (P&C) market, but they are doing reasonably well at this point given the stage in the insurance pricing cycle we...

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