Brown & Brown (BRO) Receives Average Recommendation of “Hold” from Brokerages

Shares of Brown & Brown (NYSE:BRO) have been given an average rating of “Hold” by the twelve ratings firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $24.79.

Several brokerages recently commented on BRO. Royal Bank of Canada reiterated a “hold” rating and set a $26.50 price target on shares of Brown & Brown in a report on Wednesday, January 24th. Zacks Investment Research upgraded shares of Brown & Brown from a “sell” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday, April 3rd. Morgan Stanley upped their price target on shares of Brown & Brown from $12.50 to $25.00 and gave the company an “underweight” rating in a report on Tuesday, April 3rd. Langen Mcalenn reiterated a “buy” rating on shares of Brown & Brown in a report on Tuesday, January 16th. Finally, ValuEngine cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Thursday, March 29th.

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NYSE BRO traded down $0.37 on Friday, reaching $25.09. The company had a trading volume of 1,261,662 shares, compared to its average volume of 1,240,140. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $6,914.83, a P/E ratio of 26.14, a P/E/G ratio of 2.03 and a beta of 0.69. Brown & Brown has a 12 month low of $20.66 and a 12 month high of $26.93.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted $0.21 EPS. Brown & Brown’s revenue for the quarter was up 9.4% compared to the same quarter last year. analysts forecast that Brown & Brown will post 1.24 EPS for the current fiscal year.

In other news, Chairman Hyatt J. Brown sold 140,000 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $52.85, for a total value of $7,399,000.00. Following the completion of the sale, the chairman now owns 27,957 shares of the company’s stock, valued at approximately $1,477,527.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Hyatt J. Brown sold 35,561 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $53.13, for a total transaction of $1,889,355.93. Following the completion of the sale, the chairman now directly owns 27,957 shares of the company’s stock, valued at approximately $1,485,355.41. The disclosure for this sale can be found here. 17.12% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. raised its stake in shares of Brown & Brown by 0.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 127,590 shares of the financial services provider’s stock worth $6,566,000 after acquiring an additional 1,008 shares in the last quarter. Altrinsic Global Advisors LLC raised its stake in shares of Brown & Brown by 6.3% during the 4th quarter. Altrinsic Global Advisors LLC now owns 19,583 shares of the financial services provider’s stock worth $1,008,000 after acquiring an additional 1,165 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Brown & Brown by 0.6% during the 4th quarter. California State Teachers Retirement System now owns 197,272 shares of the financial services provider’s stock worth $10,152,000 after acquiring an additional 1,215 shares in the last quarter. American International Group Inc. raised its stake in shares of Brown & Brown by 0.5% during the 4th quarter. American International Group Inc. now owns 276,148 shares of the financial services provider’s stock worth $14,211,000 after acquiring an additional 1,273 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Brown & Brown by 5.9% during the 4th quarter. Amalgamated Bank now owns 23,681 shares of the financial services provider’s stock worth $1,219,000 after acquiring an additional 1,322 shares in the last quarter. 72.25% of the stock is owned by hedge funds and other institutional investors.

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Brown & Brown Company Profile

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.

Analyst Recommendations for Brown & Brown (NYSE:BRO)

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