Zurich Insurance Group Ltd FI purchased a new stake in Brown & Brown, Inc. (NYSE:BRO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 179,856 shares of the financial services provider’s stock, valued at approximately $4,987,000.
A number of other large investors have also recently made changes to their positions in BRO. Itau Unibanco Holding S.A. bought a new position in Brown & Brown in the 2nd quarter valued at $144,000. SevenBridge Financial Group LLC boosted its holdings in Brown & Brown by 100.0% in the 1st quarter. SevenBridge Financial Group LLC now owns 6,654 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 3,327 shares during the period. Rowland & Co. Investment Counsel ADV bought a new position in Brown & Brown in the 2nd quarter valued at $183,000. Palladium Partners LLC bought a new position in Brown & Brown in the 2nd quarter valued at $211,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Brown & Brown during the 2nd quarter worth $225,000. 71.95% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on BRO shares. Morgan Stanley lifted their price objective on shares of Brown & Brown from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Tuesday, May 29th. Zacks Investment Research raised shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Monday, June 4th. Goldman Sachs Group started coverage on shares of Brown & Brown in a report on Monday, June 18th. They set a “neutral” rating and a $31.00 price objective for the company. They noted that the move was a valuation call. Citigroup lifted their price objective on shares of Brown & Brown from $25.00 to $26.00 and gave the stock a “sell” rating in a report on Thursday, July 12th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $26.00 price objective on shares of Brown & Brown in a report on Monday, July 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Brown & Brown presently has a consensus rating of “Hold” and an average price target of $28.13.
NYSE BRO opened at $31.07 on Monday. Brown & Brown, Inc. has a 52-week low of $22.66 and a 52-week high of $31.55. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.71 billion, a PE ratio of 32.36, a P/E/G ratio of 2.56 and a beta of 0.69.
Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 23rd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The company had revenue of $473.10 million for the quarter, compared to the consensus estimate of $472.74 million. Brown & Brown had a return on equity of 11.75% and a net margin of 22.25%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. equities analysts expect that Brown & Brown, Inc. will post 1.22 EPS for the current year.
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.
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