Brown & Brown Inc. (NYSE:BRO) had its price target boosted by research analysts at Citigroup Inc. from $38.00 to $41.00 in a note issued to investors on Tuesday. The firm presently has a “neutral” rating on the stock. Citigroup Inc.’s price objective points to a potential upside of 8.21% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Brown & Brown from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. JPMorgan Chase & Co. assumed coverage on shares of Brown & Brown in a research note on Tuesday, June 28th. They set an “underweight” rating and a $32.00 price objective on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $37.00 price objective (up previously from $34.00) on shares of Brown & Brown in a research note on Tuesday, July 12th. Royal Bank Of Canada increased their price objective on shares of Brown & Brown from $35.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 20th. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $37.00 price objective (up previously from $35.00) on shares of Brown & Brown in a research note on Wednesday, July 20th. 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 stock currently has a consensus rating of “Hold” and a consensus target price of $35.67.

Analyst Recommendations for Brown & Brown (NYSE:BRO)

Shares of Brown & Brown (NYSE:BRO) traded down 1.48% during midday trading on Tuesday, hitting $37.33. The stock had a trading volume of 254,758 shares. Brown & Brown has a one year low of $28.41 and a one year high of $38.69. The firm has a 50 day moving average of $37.43 and a 200-day moving average of $36.32. The company has a market cap of $5.22 billion, a P/E ratio of 20.85 and a beta of 0.93.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 18th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. Brown & Brown had a net margin of 14.87% and a return on equity of 11.68%. The business had revenue of $446.50 million for the quarter, compared to analysts’ expectations of $439.70 million. During the same quarter last year, the company posted $0.43 earnings per share. On average, analysts forecast that Brown & Brown will post $1.81 earnings per share for the current fiscal year.

In related news, EVP Robert W. Lloyd sold 2,971 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $37.32, for a total transaction of $110,877.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 17.49% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BRO. CIBC Asset Management Inc boosted its stake in shares of Brown & Brown by 0.4% in the second quarter. CIBC Asset Management Inc now owns 6,677 shares of the company’s stock worth $250,000 after buying an additional 26 shares during the last quarter. IBM Retirement Fund boosted its stake in shares of Brown & Brown by 1.4% in the second quarter. IBM Retirement Fund now owns 11,756 shares of the company’s stock worth $440,000 after buying an additional 168 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Brown & Brown by 1.1% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 20,064 shares of the company’s stock worth $752,000 after buying an additional 214 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Brown & Brown by 2.9% in the second quarter. Capstone Asset Management Co. now owns 11,458 shares of the company’s stock worth $429,000 after buying an additional 320 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Brown & Brown by 1.1% in the second quarter. Public Employees Retirement System of Ohio now owns 46,500 shares of the company’s stock worth $1,742,000 after buying an additional 486 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Brown & Brown Company Profile

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.

5 Day Chart for NYSE:BRO

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