Brown & Brown Q3 Results Fail to Shift Barclays’ Equal Weight Rating

Barclays maintained its Equal Weight rating on Brown & Brown (BRO) despite Q3 results showing a 35% revenue growth to $1.6 billion and a 170 basis point expansion in EBITDAC margin to 36.6%. The company also announced a 10% dividend increase and a $1.5 billion share repurchase program.