Brown & Brown (BRO) PT Lowered to $26.00 at Deutsche Bank

Brown & Brown (NYSE:BRO) had its target price lowered by Deutsche Bank from $52.00 to $26.00 in a research report released on Thursday morning. The firm currently has a hold rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. Langen Mcalenn restated a buy rating on shares of Brown & Brown in a research report on Tuesday, January 16th. Zacks Investment Research upgraded Brown & Brown from a hold rating to a buy rating and set a $29.00 price target on the stock in a research report on Tuesday, January 2nd. SunTrust Banks upgraded Brown & Brown from a hold rating to a buy rating in a research report on Wednesday, December 6th. Royal Bank of Canada restated a hold rating and set a $26.50 price target on shares of Brown & Brown in a research report on Wednesday, January 24th. Finally, Wells Fargo restated a hold rating and set a $26.00 price target on shares of Brown & Brown in a research report on Monday, January 22nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $25.06.

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Shares of Brown & Brown stock opened at $25.44 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $7,011.31, a PE ratio of 26.50, a PEG ratio of 2.13 and a beta of 0.70. Brown & Brown has a 12 month low of $20.55 and a 12 month high of $26.93.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. Brown & Brown had a return on equity of 11.19% and a net margin of 21.24%. The firm had revenue of $474.30 million for the quarter, compared to analyst estimates of $449.89 million. During the same period in the prior year, the company earned $0.21 EPS. The company’s revenue was up 9.4% on a year-over-year basis. research analysts forecast that Brown & Brown will post 1.2 EPS for the current year.

In other news, Chairman Hyatt J. Brown sold 140,000 shares of Brown & Brown stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $52.85, for a total value of $7,399,000.00. Following the sale, the chairman now directly owns 27,957 shares in the company, valued at approximately $1,477,527.45. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Hyatt J. Brown sold 35,561 shares of Brown & Brown stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $53.13, for a total value of $1,889,355.93. Following the completion of the sale, the chairman now owns 27,957 shares in the company, valued at $1,485,355.41. The disclosure for this sale can be found here. 17.12% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRO. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Brown & Brown by 15.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,823 shares of the financial services provider’s stock valued at $762,000 after purchasing an additional 2,135 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Brown & Brown by 4.2% in the 3rd quarter. New York State Common Retirement Fund now owns 563,100 shares of the financial services provider’s stock valued at $27,136,000 after purchasing an additional 22,701 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Brown & Brown by 1.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,340,002 shares of the financial services provider’s stock valued at $64,574,000 after purchasing an additional 23,489 shares during the period. Commonwealth Equity Services Inc lifted its stake in shares of Brown & Brown by 18.0% in the 3rd quarter. Commonwealth Equity Services Inc now owns 14,645 shares of the financial services provider’s stock valued at $705,000 after purchasing an additional 2,238 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Brown & Brown by 2.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 330,938 shares of the financial services provider’s stock valued at $15,949,000 after purchasing an additional 6,921 shares during the period. Institutional investors own 72.25% of the company’s stock.

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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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