Brown & Brown (NYSE:BRO) Rating Increased to Buy at StockNews.com

Brown & Brown (NYSE:BROGet Free Report) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other brokerages have also recently issued reports on BRO. Raymond James lifted their price objective on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Wells Fargo & Company lifted their price objective on Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods upped their target price on Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a research note on Friday, May 3rd. Citigroup raised their price target on Brown & Brown from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada upped their price objective on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $88.80.

Read Our Latest Analysis on Brown & Brown

Brown & Brown Price Performance

Shares of NYSE BRO opened at $87.75 on Wednesday. The stock has a fifty day moving average price of $85.28 and a 200 day moving average price of $79.91. Brown & Brown has a 1-year low of $61.71 and a 1-year high of $91.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97. The company has a market cap of $25.03 billion, a PE ratio of 27.00, a P/E/G ratio of 2.30 and a beta of 0.79.

Brown & Brown (NYSE:BROGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts forecast that Brown & Brown will post 3.61 EPS for the current year.

Insider Transactions at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.02% of the company’s stock.

Institutional Investors Weigh In On Brown & Brown

Large investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in shares of Brown & Brown during the fourth quarter valued at about $31,000. Headlands Technologies LLC acquired a new stake in Brown & Brown during the 1st quarter valued at approximately $32,000. Park Place Capital Corp increased its holdings in Brown & Brown by 166.5% during the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 318 shares during the last quarter. Alaska Permanent Fund Corp acquired a new position in shares of Brown & Brown in the 1st quarter valued at approximately $36,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Brown & Brown by 174.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after buying an additional 348 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Company Profile

(Get Free Report)

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.

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Analyst Recommendations for Brown & Brown (NYSE:BRO)

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