Brown & Brown, Inc. (BRO) Receives Average Recommendation of “Hold” from Brokerages

Shares of Brown & Brown, Inc. (NYSE:BRO) have been assigned a consensus rating of “Hold” from the twelve analysts that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $24.79.

BRO has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $26.50 price target on shares of Brown & Brown in a research note on Wednesday, January 24th. ValuEngine downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research note on Thursday. Langen Mcalenn restated a “buy” rating on shares of Brown & Brown in a research note on Tuesday, January 16th. Zacks Investment Research upgraded Brown & Brown from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Tuesday, January 2nd. Finally, Deutsche Bank reduced their price objective on Brown & Brown from $52.00 to $26.00 and set a “hold” rating for the company in a research note on Thursday.

How to Become a New Pot Stock Millionaire

Brown & Brown stock traded down $0.07 during trading hours on Friday, reaching $25.44. 1,503,990 shares of the company’s stock traded hands, compared to its average volume of 1,322,348. The company 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. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. Brown & Brown has a fifty-two week low of $20.55 and a fifty-two week high of $26.93.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.03. Brown & Brown had a net margin of 21.24% and a return on equity of 11.19%. The company had revenue of $474.30 million during the quarter, compared to analysts’ expectations of $449.89 million. During the same period last year, the business earned $0.21 EPS. The business’s quarterly 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 related news, Chairman Hyatt J. Brown sold 35,561 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $53.13, for a total transaction of $1,889,355.93. Following the transaction, the chairman now directly owns 27,957 shares of the company’s stock, valued at approximately $1,485,355.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Hyatt J. Brown sold 140,000 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $52.85, for a total value of $7,399,000.00. Following the transaction, the chairman now directly owns 27,957 shares in the company, valued at $1,477,527.45. The disclosure for this sale can be found here. Company insiders own 17.12% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in BRO. UBS Asset Management Americas Inc. raised its stake in shares of Brown & Brown by 0.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 127,590 shares of the financial services provider’s stock worth $6,566,000 after purchasing an additional 1,008 shares during the last quarter. Altrinsic Global Advisors LLC boosted its stake in shares of Brown & Brown by 6.3% in the fourth quarter. Altrinsic Global Advisors LLC now owns 19,583 shares of the financial services provider’s stock worth $1,008,000 after acquiring an additional 1,165 shares during the period. California State Teachers Retirement System boosted its stake in shares of Brown & Brown by 0.6% in the fourth quarter. California State Teachers Retirement System now owns 197,272 shares of the financial services provider’s stock worth $10,152,000 after acquiring an additional 1,215 shares during the period. American International Group Inc. lifted its position in shares of Brown & Brown by 0.5% in the fourth quarter. American International Group Inc. now owns 276,148 shares of the financial services provider’s stock worth $14,211,000 after buying an additional 1,273 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Brown & Brown by 5.9% in the fourth quarter. Amalgamated Bank now owns 23,681 shares of the financial services provider’s stock worth $1,219,000 after buying an additional 1,322 shares in the last quarter. 72.25% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by WKRB News and is the sole property of of WKRB News. If you are viewing this news story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright law. The correct version of this news story can be accessed at https://www.wkrb13.com/2018/04/01/brown-brown-inc-bro-receives-average-recommendation-of-hold-from-brokerages.html.

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)

Receive News & Ratings for Brown & Brown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply