Brown & Brown (NYSE:BRO) Given “Neutral” Rating at Bank of America

Brown & Brown (NYSE:BRO)‘s stock had its “neutral” rating restated by research analysts at Bank of America in a research note issued to investors on Monday,Benzinga reports. They presently have a $97.00 target price on the financial services provider’s stock, down from their prior target price of $135.00. Bank of America‘s price objective would indicate a potential upside of 21.54% from the stock’s current price.

Several other research firms have also weighed in on BRO. Argus restated a “hold” rating on shares of Brown & Brown in a research report on Thursday, July 31st. BMO Capital Markets dropped their target price on shares of Brown & Brown from $122.00 to $106.00 and set an “outperform” rating on the stock in a report on Wednesday, July 30th. Wells Fargo & Company dropped their price objective on shares of Brown & Brown from $98.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 29th. Citigroup decreased their target price on shares of Brown & Brown from $112.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods dropped their price target on Brown & Brown from $104.00 to $87.00 and set an “underperform” rating on the stock in a research report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $105.85.

Brown & Brown Trading Down 0.8%

NYSE:BRO opened at $79.81 on Monday. The company has a 50-day moving average price of $92.16 and a 200-day moving average price of $101.35. The stock has a market cap of $27.25 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 1.70 and a beta of 0.79. The company has a current ratio of 2.10, a quick ratio of 6.72 and a debt-to-equity ratio of 0.62. Brown & Brown has a 12 month low of $79.30 and a 12 month high of $125.68.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. Brown & Brown’s revenue was up 35.4% on a year-over-year basis. Equities analysts predict that Brown & Brown will post 4.18 EPS for the current year.

Insider Transactions at Brown & Brown

In other news, Director Paul J. Krump bought 2,678 shares of the stock in a transaction on Friday, August 8th. The shares were bought at an average price of $93.31 per share, with a total value of $249,884.18. Following the completion of the acquisition, the director owned 5,353 shares in the company, valued at $499,488.43. The trade was a 100.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bronislaw Edmund Masojada bought 1,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was purchased at an average cost of $91.44 per share, for a total transaction of $91,440.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $457,200. The trade was a 25.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 17.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bares Capital Management Inc. purchased a new stake in shares of Brown & Brown in the 1st quarter worth $26,000. Optimum Investment Advisors bought a new stake in Brown & Brown during the first quarter valued at about $31,000. SouthState Corp increased its position in Brown & Brown by 188.6% in the first quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock worth $32,000 after buying an additional 166 shares in the last quarter. ST Germain D J Co. Inc. increased its position in Brown & Brown by 298.5% in the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of Brown & Brown in the second quarter worth about $30,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Brown & Brown

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.