Insurer Fashions Base After Lengthy Run-Up.(B)

Byline: Craig Shaw

Brown & Brown enjoyed a strong 2000 and 2001, nearly tripling in price over those two years. It's now working on a 33-week base. Volume has dried up the past month as the stock drifted downward in price, ideal action for a handle.

The Florida-based insurance broker has spent $60 million on acquisitions this year, including last week's buy of LaGere & Walkingstick, an Oklahoma insurer. Profit and sales have grown every year since at least 1993, with 41% earnings growth expected in fiscal 2002 and 26% next year. Its Earnings Per Share Rating of 97 and SMR Rating of A reflect its solid fundamentals.

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