Brown & Brown Inc. (NYSE:BRO) Receives Consensus Rating of “Hold” from Analysts
Shares of Brown & Brown Inc. (NYSE:BRO) have received a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the stock. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $35.00.
Several research firms have recently weighed in on BRO. Barclays PLC upped their price target on shares of Brown & Brown from $31.00 to $33.00 and gave the company an “underweight” rating in a report on Friday, September 30th. Zacks Investment Research lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. JPMorgan Chase & Co. began coverage on shares of Brown & Brown in a research report on Tuesday, June 28th. They issued an “underweight” rating and a $32.00 price objective on the stock. RBC Capital Markets reissued a “sector perform” rating and issued a $37.00 price objective (up previously from $35.00) on shares of Brown & Brown in a research report on Wednesday, July 20th. Finally, Compass Point boosted their price objective on shares of Brown & Brown from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 20th.
In other news, EVP Robert W. Lloyd sold 2,971 shares of the stock in a transaction dated Tuesday, September 20th. The shares were 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 SEC, which can be accessed through this hyperlink. 17.49% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position 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 during the last quarter. Advisors Asset Management Inc. acquired a new position in Brown & Brown during the second quarter valued at approximately $112,000. Carnick & Kubik LLC acquired a new position in Brown & Brown during the first quarter valued at approximately $158,000. Stephens Inc. AR acquired a new position in Brown & Brown during the second quarter valued at approximately $202,000. Finally, Oakbrook Investments LLC acquired a new position in Brown & Brown during the second quarter valued at approximately $217,000. 72.81% of the stock is currently owned by institutional investors.
Brown & Brown (NYSE:BRO) traded up 1.7630% during mid-day trading on Thursday, reaching $38.6089. 1,136,543 shares of the company’s stock traded hands. Brown & Brown has a 1-year low of $28.41 and a 1-year high of $38.62. The firm has a market cap of $5.40 billion, a PE ratio of 21.5692 and a beta of 0.93. The firm has a 50 day moving average of $37.28 and a 200 day moving average of $36.24.
Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 18th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company earned $446.50 million during the quarter, compared to analysts’ expectations of $439.70 million. Brown & Brown had a net margin of 14.87% and a return on equity of 11.68%. During the same quarter in the prior year, the company earned $0.43 earnings per share. 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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