Brown & Brown’s (BRO) “Hold” Rating Reiterated at Wells Fargo & Co

Wells Fargo & Co reiterated their hold rating on shares of Brown & Brown (NYSE:BRO) in a report released on Sunday, AnalystRatings.com reports. The brokerage currently has a $28.00 target price on the financial services provider’s stock.

Several other research analysts also recently commented on BRO. Zacks Investment Research downgraded Brown & Brown from a hold rating to a sell rating in a research note on Monday, March 25th. ValuEngine upgraded Brown & Brown from a sell rating to a hold rating in a report on Wednesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $29.30.

NYSE BRO opened at $31.57 on Friday. Brown & Brown has a one year low of $25.72 and a one year high of $32.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $8.55 billion, a P/E ratio of 25.67, a PEG ratio of 2.30 and a beta of 0.73.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, April 22nd. The financial services provider reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Brown & Brown had a return on equity of 12.03% and a net margin of 17.09%. The firm had revenue of $617.50 million during the quarter, compared to the consensus estimate of $600.51 million. During the same period in the prior year, the company earned $0.33 EPS. The firm’s revenue was up 23.4% compared to the same quarter last year. On average, sell-side analysts forecast that Brown & Brown will post 1.33 earnings per share for the current year.

In other news, EVP Anthony T. Strianese sold 35,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $29.17, for a total transaction of $1,020,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert W. Lloyd sold 10,601 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $29.29, for a total value of $310,503.29. The disclosure for this sale can be found here. 16.69% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRO. Dimensional Fund Advisors LP grew its holdings in shares of Brown & Brown by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,066,953 shares of the financial services provider’s stock worth $61,120,000 after purchasing an additional 35,876 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Brown & Brown during the 3rd quarter worth $467,000. Paloma Partners Management Co grew its holdings in shares of Brown & Brown by 16.3% during the 3rd quarter. Paloma Partners Management Co now owns 15,725 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 2,203 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Brown & Brown by 5.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 385,070 shares of the financial services provider’s stock worth $11,386,000 after purchasing an additional 19,151 shares during the period. Finally, Man Group plc grew its holdings in shares of Brown & Brown by 15.0% during the 3rd quarter. Man Group plc now owns 181,708 shares of the financial services provider’s stock worth $5,374,000 after purchasing an additional 23,714 shares during the period. Institutional investors and hedge funds own 72.24% of the company’s stock.

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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Analyst Recommendations for Brown & Brown (NYSE:BRO)

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