Brown & Brown, Inc. (NYSE:BRO) Given Consensus Rating of “Hold” by Brokerages

Shares of Brown & Brown, Inc. (NYSE:BRO) have been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $36.20.

Several research analysts have weighed in on the company. Barclays boosted their price target on Brown & Brown from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 2nd. ValuEngine lowered Brown & Brown from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. SunTrust Banks reaffirmed a “buy” rating and set a $46.00 price target on shares of Brown & Brown in a research report on Wednesday. Morgan Stanley upgraded Brown & Brown from an “underweight” rating to an “equal” rating and set a $38.00 target price for the company in a research note on Thursday, December 5th. Finally, Raymond James lifted their target price on Brown & Brown from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th.

In other news, EVP Jerome Scott Penny sold 30,000 shares of Brown & Brown stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $39.47, for a total transaction of $1,184,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 16.69% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sciencast Management LP bought a new position in shares of Brown & Brown in the fourth quarter worth $258,000. Investors Asset Management of Georgia Inc. GA ADV bought a new position in shares of Brown & Brown in the fourth quarter worth $205,000. Raymond James Trust N.A. increased its position in shares of Brown & Brown by 3.9% in the fourth quarter. Raymond James Trust N.A. now owns 18,268 shares of the financial services provider’s stock worth $721,000 after purchasing an additional 694 shares during the period. 6 Meridian increased its position in shares of Brown & Brown by 3.5% in the fourth quarter. 6 Meridian now owns 15,463 shares of the financial services provider’s stock worth $610,000 after purchasing an additional 519 shares during the period. Finally, IFM Investors Pty Ltd bought a new position in shares of Brown & Brown in the fourth quarter worth $679,000. Institutional investors and hedge funds own 70.18% of the company’s stock.

Shares of NYSE:BRO traded up $0.39 during trading on Friday, hitting $40.98. 51,475 shares of the company were exchanged, compared to its average volume of 1,300,488. The stock has a market cap of $11.31 billion, a price-to-earnings ratio of 33.34, a P/E/G ratio of 2.66 and a beta of 0.69. Brown & Brown has a fifty-two week low of $26.23 and a fifty-two week high of $40.69. The firm has a fifty day moving average price of $39.13 and a two-hundred day moving average price of $36.91. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.39 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $618.70 million for the quarter, compared to analyst estimates of $610.36 million. Brown & Brown had a return on equity of 12.39% and a net margin of 17.04%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 EPS. As a group, research analysts predict that Brown & Brown will post 1.39 EPS for the current year.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

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