Brown & Brown (BRO) Given Consensus Rating of “Hold” by Brokerages

Brown & Brown (NYSE:BRO) has received an average rating of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $24.79.

Several research firms have recently issued reports on BRO. Zacks Investment Research cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank decreased their price objective on shares of Brown & Brown from $52.00 to $26.00 and set a “hold” rating for the company in a report on Thursday, March 29th. Morgan Stanley decreased their price objective on shares of Brown & Brown from $50.00 to $25.00 and set an “underweight” rating for the company in a report on Wednesday, March 28th. ValuEngine cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Thursday, March 29th. Finally, Barclays reiterated a “sell” rating and issued a $23.00 price objective (down from $46.00) on shares of Brown & Brown in a report on Friday, March 30th.

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Shares of NYSE:BRO opened at $25.15 on Friday. Brown & Brown has a 52 week low of $20.66 and a 52 week high of $26.93. The company has a market capitalization of $6,975.47, a price-to-earnings ratio of 26.52, a PEG ratio of 2.14 and a beta of 0.69. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The business had revenue of $474.30 million during the quarter, compared to analysts’ expectations of $449.89 million. Brown & Brown had a net margin of 21.24% and a return on equity of 11.19%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.21 earnings per share. sell-side analysts predict that Brown & Brown will post 1.19 EPS for the current year.

In related news, Chairman Hyatt J. Brown sold 140,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $52.85, for a total transaction of $7,399,000.00. Following the completion of the sale, the chairman now directly owns 27,957 shares in the company, valued at $1,477,527.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Hyatt J. Brown sold 35,561 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $53.13, for a total transaction of $1,889,355.93. Following the sale, the chairman now owns 27,957 shares of the company’s stock, valued at $1,485,355.41. The disclosure for this sale can be found here. Company insiders own 17.12% of the company’s stock.

Large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new stake in Brown & Brown during the fourth quarter worth approximately $360,000. Wolverine Trading LLC bought a new stake in Brown & Brown during the third quarter worth approximately $273,000. Deutsche Bank AG boosted its holdings in Brown & Brown by 1,280.2% during the fourth quarter. Deutsche Bank AG now owns 757,949 shares of the financial services provider’s stock worth $39,001,000 after buying an additional 703,032 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Brown & Brown by 314.6% during the fourth quarter. Teacher Retirement System of Texas now owns 40,791 shares of the financial services provider’s stock worth $2,099,000 after buying an additional 30,953 shares in the last quarter. Finally, Prospector Partners LLC boosted its holdings in Brown & Brown by 9.9% during the third quarter. Prospector Partners LLC now owns 496,000 shares of the financial services provider’s stock worth $23,902,000 after buying an additional 44,500 shares in the last quarter. Hedge funds and other institutional investors own 72.25% of the company’s stock.

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About Brown & Brown

Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.

Analyst Recommendations for Brown & Brown (NYSE:BRO)

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