Brown & Brown (NYSE:BRO) had its price target hoisted by Morgan Stanley from $12.50 to $25.00 in a research note published on Tuesday morning. They currently have an underweight rating on the financial services provider’s stock.
Several other research firms also recently issued reports on BRO. SunTrust Banks upgraded shares of Brown & Brown from a hold rating to a buy rating in a report on Wednesday, December 6th. Zacks Investment Research downgraded shares of Brown & Brown from a buy rating to a hold rating in a report on Tuesday, March 6th. ValuEngine downgraded shares of Brown & Brown from a buy rating to a hold rating in a report on Thursday, March 29th. Langen Mcalenn reiterated a buy rating on shares of Brown & Brown in a research report on Tuesday, January 16th. Finally, Wells Fargo reiterated a hold rating and set a $26.00 target price on shares of Brown & Brown in a research report on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $24.94.
NYSE:BRO opened at $25.09 on Tuesday. Brown & Brown has a 52-week low of $20.66 and a 52-week high of $26.93. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. The stock has a market cap of $7,016.81, a PE ratio of 26.14, a P/E/G ratio of 2.06 and a beta of 0.69.
Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. Brown & Brown had a net margin of 21.24% and a return on equity of 11.19%. The company had revenue of $474.30 million for the quarter, compared to the consensus estimate of $449.89 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. research analysts expect that Brown & Brown will post 1.24 earnings per share for the current year.
In other news, Chairman Hyatt J. Brown sold 140,000 shares of Brown & Brown stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $52.85, for a total transaction of $7,399,000.00. Following the sale, the chairman now directly owns 27,957 shares in the company, valued at approximately $1,477,527.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Hyatt J. Brown sold 35,561 shares of Brown & Brown stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $53.13, for a total transaction of $1,889,355.93. Following the sale, the chairman now owns 27,957 shares in the company, valued at $1,485,355.41. The disclosure for this sale can be found here. 17.12% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC boosted its position in Brown & Brown by 224.2% in the fourth quarter. Citadel Advisors LLC now owns 1,438,943 shares of the financial services provider’s stock valued at $74,048,000 after buying an additional 995,031 shares in the last quarter. Millennium Management LLC boosted its position in Brown & Brown by 275.8% in the fourth quarter. Millennium Management LLC now owns 1,049,650 shares of the financial services provider’s stock valued at $54,015,000 after buying an additional 770,376 shares in the last quarter. Deutsche Bank AG boosted its position in Brown & Brown by 1,280.2% in the fourth quarter. Deutsche Bank AG now owns 757,949 shares of the financial services provider’s stock valued at $39,001,000 after buying an additional 703,032 shares in the last quarter. Renaissance Technologies LLC boosted its position in Brown & Brown by 28.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,855,300 shares of the financial services provider’s stock valued at $95,474,000 after buying an additional 414,200 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Brown & Brown in the fourth quarter valued at about $13,463,000. Institutional investors and hedge funds own 72.25% of the company’s stock.
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About Brown & Brown
Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.
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