Brown & Brown (NYSE:BRO) Downgraded to Hold at StockNews.com

Brown & Brown (NYSE:BRO – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other equities analysts have also issued reports on BRO. Citigroup raised Brown & Brown from a “neutral” rating to a “buy” rating and boosted their price target for the company from $62.00 to $69.00 in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods boosted their price target on Brown & Brown from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, April 18th. Finally, Jefferies Financial Group dropped their price target on Brown & Brown from $69.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, April 10th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Brown & Brown currently has an average rating of “Moderate Buy” and an average price target of $66.64.

Brown & Brown Price Performance

Shares of BRO opened at $63.09 on Friday. Brown & Brown has a 52-week low of $52.82 and a 52-week high of $68.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.49 and a current ratio of 2.49. The business’s 50 day moving average price is $61.07 and its two-hundred day moving average price is $58.86. The firm has a market cap of $17.89 billion, a PE ratio of 26.07 and a beta of 0.75.

Institutional Investors Weigh In On Brown & Brown

Several institutional investors have recently bought and sold shares of the stock. Kentucky Retirement Systems grew its holdings in Brown & Brown by 0.8% during the first quarter. Kentucky Retirement Systems now owns 18,585 shares of the financial services provider’s stock worth $1,067,000 after buying an additional 153 shares in the last quarter. Advisor Partners II LLC grew its holdings in Brown & Brown by 1.3% during the first quarter. Advisor Partners II LLC now owns 11,845 shares of the financial services provider’s stock worth $680,000 after buying an additional 157 shares in the last quarter. Stephens Inc. AR grew its holdings in Brown & Brown by 0.7% during the first quarter. Stephens Inc. AR now owns 25,801 shares of the financial services provider’s stock worth $1,481,000 after buying an additional 172 shares in the last quarter. Tradition Wealth Management LLC grew its holdings in Brown & Brown by 8.9% during the first quarter. Tradition Wealth Management LLC now owns 2,134 shares of the financial services provider’s stock worth $123,000 after buying an additional 174 shares in the last quarter. Finally, Brookstone Capital Management grew its holdings in Brown & Brown by 2.7% during the first quarter. Brookstone Capital Management now owns 6,994 shares of the financial services provider’s stock worth $418,000 after buying an additional 184 shares in the last quarter. Institutional investors own 69.52% of the company’s stock.

About Brown & Brown

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Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.