Brown & Brown, Inc. (NYSE:BRO) has been given an average recommendation of “Hold” by the twelve research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $43.43.
A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Brown & Brown in a research note on Friday, August 18th. BidaskClub upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Wells Fargo & Company reiterated a “hold” rating on shares of Brown & Brown in a report on Tuesday, August 15th. Zacks Investment Research lowered shares of Brown & Brown from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Citigroup Inc. upped their price target on shares of Brown & Brown from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 13th.
In other Brown & Brown news, EVP Anthony T. Strianese sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $44.59, for a total value of $445,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.98% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Crow Point Partners LLC raised its holdings in Brown & Brown by 38.4% in the 3rd quarter. Crow Point Partners LLC now owns 8,885 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 2,467 shares in the last quarter. Tandem Investment Advisors Inc. raised its holdings in Brown & Brown by 12.0% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 230,055 shares of the financial services provider’s stock worth $9,908,000 after purchasing an additional 24,576 shares in the last quarter. BB&T Investment Services Inc. bought a new position in Brown & Brown in the 2nd quarter worth $434,000. Ameritas Investment Partners Inc. raised its holdings in Brown & Brown by 1.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 34,420 shares of the financial services provider’s stock worth $1,482,000 after purchasing an additional 582 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new position in Brown & Brown in the 2nd quarter worth $382,000. Institutional investors and hedge funds own 72.18% of the company’s stock.
Shares of Brown & Brown (NYSE BRO) traded down 0.10% during trading on Friday, reaching $48.89. 418,603 shares of the company were exchanged. The stock has a 50-day moving average price of $46.79 and a 200-day moving average price of $44.06. The stock has a market capitalization of $6.84 billion, a PE ratio of 26.14 and a beta of 0.79. Brown & Brown has a one year low of $36.04 and a one year high of $49.13.
Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 17th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. Brown & Brown had a net margin of 14.52% and a return on equity of 11.10%. The company had revenue of $466.30 million during the quarter, compared to analysts’ expectations of $465.48 million. During the same quarter in the prior year, the company earned $0.47 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. Analysts forecast that Brown & Brown will post $1.85 EPS for the current year.
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Brown & Brown Company Profile
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.
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