Brown & Brown, Inc. Buyback
OLI recorded this information on 5/1/2019
Brown & Brown, Inc.
Brown & Brown, Inc. (NYSE:BRO) (the "Company") today announced that as part of its disciplined capital allocation strategy, the Company's Board of Directors has authorized the purchasing of up to an additional $372.5 million of the Company's outstanding common stock. With this authorization, the Company will now have outstanding approval to purchase up to approximately $500 million, in the aggregate, of the Company's outstanding common stock. The shares will be repurchased from time to time, at the Company's discretion and subject to the availability of stock, market conditions, the trading price of the stock, alternative uses for capital, the Company's financial performance, the desire to reduce dilution from the Company's employee equity incentive plans, and other potential factors. These purchases may be carried out through open market purchases, block trades, accelerated share repurchase plans of up to $100 million each (unless otherwise approved by the Board of Directors), negotiated private transactions or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
Brown & Brown is an insurance agency, wholesale brokerage, insurance programs and service organization. Co.'s segments are: Retail, which provides a range of insurance products and services, and as non-insurance services and products; National Programs, which provides professional liability and related package products, a range of insurance products, flood coverage, and targeted products and services; Wholesale Brokerage, which markets and sells excess and surplus commercial and personal lines insurance; and Services, which provides insurance-related services, including third-party claims administration and adjusting services, and medical utilization management services.
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Buy (2.75 out of 4)