Brown & Brown Inc. (NYSE:BRO) Receives Consensus Rating of “Hold” from Analysts
Brown & Brown Inc. (NYSE:BRO) has earned a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the company. Three research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $35.00.
A number of brokerages recently issued reports on BRO. Barclays PLC boosted their price objective on Brown & Brown from $31.00 to $33.00 and gave the company an “underweight” rating in a research note on Friday, September 30th. Zacks Investment Research lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Friday, July 15th. JPMorgan Chase & Co. initiated coverage on Brown & Brown in a report on Tuesday, June 28th. They set an “underweight” rating and a $32.00 target price for the company. RBC Capital Markets reaffirmed a “sector perform” rating and set a $37.00 target price (up previously from $35.00) on shares of Brown & Brown in a report on Wednesday, July 20th. Finally, Compass Point lifted their target price on Brown & Brown from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, July 20th.
In other Brown & Brown news, EVP Robert W. Lloyd sold 2,971 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $37.32, for a total value of $110,877.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.49% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of BRO. Tower Research Capital LLC TRC raised its stake in shares of Brown & Brown by 124.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,693 shares of the company’s stock valued at $101,000 after buying an additional 1,494 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Brown & Brown during the second quarter valued at $112,000. Carnick & Kubik LLC bought a new stake in shares of Brown & Brown during the first quarter valued at $158,000. Stephens Inc. AR bought a new stake in shares of Brown & Brown during the second quarter valued at $202,000. Finally, Oakbrook Investments LLC bought a new stake in shares of Brown & Brown during the second quarter valued at $217,000. 72.81% of the stock is owned by institutional investors and hedge funds.
Shares of Brown & Brown (NYSE:BRO) traded up 1.7630% on Thursday, reaching $38.6089. 1,136,543 shares of the company were exchanged. The stock’s 50-day moving average is $37.28 and its 200 day moving average is $36.24. The firm has a market capitalization of $5.40 billion, a PE ratio of 21.5692 and a beta of 0.93. Brown & Brown has a 12-month low of $28.41 and a 12-month high of $38.62.
Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. Brown & Brown had a return on equity of 11.68% and a net margin of 14.87%. The business had revenue of $446.50 million for the quarter, compared to analysts’ expectations of $439.70 million. During the same period in the previous year, the business posted $0.43 EPS. On average, analysts forecast that Brown & Brown will post $1.81 EPS for the current year.
About Brown & Brown
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services in the property, casualty and employee benefits areas. It provides customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.
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