Brown & Brown, Inc. (NYSE:BRO) had its price target increased by research analysts at Morgan Stanley from $40.00 to $43.00 in a report issued on Wednesday. The firm currently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential downside of 12.24% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Co set a $45.00 price target on Brown & Brown and gave the company a “hold” rating in a report on Monday. Keefe, Bruyette & Woods reissued a “hold” rating and set a $45.00 price target on shares of Brown & Brown in a report on Monday. BidaskClub raised Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Zacks Investment Research raised Brown & Brown from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Finally, Citigroup Inc. increased their price target on Brown & Brown from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 13th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $44.22.

Shares of Brown & Brown (NYSE BRO) opened at 49.00 on Wednesday. Brown & Brown has a one year low of $36.05 and a one year high of $49.62. The company’s 50-day moving average price is $47.72 and its 200-day moving average price is $44.37. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 25.78 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The firm had revenue of $475.60 million for the quarter, compared to analysts’ expectations of $475.13 million. Brown & Brown had a return on equity of 10.99% and a net margin of 14.66%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. On average, equities research analysts predict that Brown & Brown will post $1.87 earnings per share for the current year.

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In related news, EVP Anthony T. Strianese sold 18,870 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $44.49, for a total value of $839,526.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. 16.98% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in BRO. UBS Asset Management Americas Inc. raised its holdings in Brown & Brown by 10.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 90,499 shares of the financial services provider’s stock worth $3,776,000 after purchasing an additional 8,324 shares during the period. Parametric Portfolio Associates LLC raised its holdings in Brown & Brown by 3.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 85,667 shares of the financial services provider’s stock worth $3,574,000 after purchasing an additional 3,180 shares during the period. JPMorgan Chase & Co. raised its holdings in Brown & Brown by 151.3% in the 1st quarter. JPMorgan Chase & Co. now owns 218,064 shares of the financial services provider’s stock worth $9,098,000 after purchasing an additional 131,281 shares during the period. Alliancebernstein L.P. raised its holdings in Brown & Brown by 110.3% in the 1st quarter. Alliancebernstein L.P. now owns 180,718 shares of the financial services provider’s stock worth $7,540,000 after purchasing an additional 94,794 shares during the period. Finally, OppenheimerFunds Inc. raised its holdings in Brown & Brown by 24.9% in the 1st quarter. OppenheimerFunds Inc. now owns 10,134 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 2,023 shares during the period. 72.18% of the stock is currently owned by institutional investors.

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 its customers with non-investment insurance contracts, as well as other customized risk management products and services.

Analyst Recommendations for Brown & Brown (NYSE:BRO)

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