Brown & Brown jumps on $250 mln accelerated share repurchase program

Insurance broker Brown & Brown's BRO.N shares rise 4.5% to $70 premarket

BRO launches a $250 million accelerated share repurchase program with Bank of America BAC.N

Program part of co's $1.5 billion share repurchase authorization announced in October

Stocks of insurance brokers have struggled this year on concerns that AI tools could speed up disruption across the sector

Of 19 brokerages tracking the stock, two rate it "buy" and 17 "hold"; median PT is $83 - data compiled by LSEG

As of last close, BRO down 16% YTD