Brown & Brown, Inc. (NYSE:BRO)‘s stock had its “hold” rating reissued by equities research analysts at Keefe, Bruyette & Woods in a research note issued to investors on Friday. They currently have a $43.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential downside of 0.85% from the stock’s previous close.
A number of other equities analysts have also commented on the stock. BidaskClub lowered shares of Brown & Brown from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Wells Fargo & Company reiterated a “hold” rating on shares of Brown & Brown in a report on Monday, July 17th. Zacks Investment Research lowered shares of Brown & Brown from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Royal Bank Of Canada reiterated a “hold” rating on shares of Brown & Brown in a report on Monday, May 8th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and set a $46.00 price target (up previously from $44.00) on shares of Brown & Brown in a report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $43.43.
Shares of Brown & Brown (NYSE BRO) traded up 0.60% on Friday, hitting $43.63. The stock had a trading volume of 613,524 shares. The company has a 50 day moving average of $43.70 and a 200-day moving average of $43.08. Brown & Brown has a 12-month low of $36.04 and a 12-month high of $45.77. The firm has a market capitalization of $6.10 billion, a P/E ratio of 23.33 and a beta of 0.78.
Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 17th. The financial services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $466.30 million for the quarter, compared to analyst estimates of $465.48 million. Brown & Brown had a net margin of 14.52% and a return on equity of 11.10%. Brown & Brown’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 earnings per share. Equities analysts predict that Brown & Brown will post $1.84 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This report was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://stocknewstimes.com/2017/08/18/brown-browns-bro-hold-rating-reaffirmed-at-keefe-bruyette-woods.html.
In related news, EVP Anthony T. Strianese sold 10,000 shares of the business’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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.98% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Brown & Brown by 4.4% in the second quarter. Vanguard Group Inc. now owns 11,226,387 shares of the financial services provider’s stock valued at $483,521,000 after buying an additional 468,116 shares in the last quarter. BlackRock Inc. raised its position in shares of Brown & Brown by 2.2% in the second quarter. BlackRock Inc. now owns 9,704,740 shares of the financial services provider’s stock valued at $417,982,000 after buying an additional 213,014 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Brown & Brown by 0.5% in the second quarter. First Eagle Investment Management LLC now owns 7,133,481 shares of the financial services provider’s stock valued at $307,239,000 after buying an additional 33,495 shares in the last quarter. State Street Corp raised its position in shares of Brown & Brown by 1.7% in the second quarter. State Street Corp now owns 5,807,711 shares of the financial services provider’s stock valued at $250,140,000 after buying an additional 98,674 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Brown & Brown by 7.3% in the second quarter. Wells Fargo & Company MN now owns 5,673,614 shares of the financial services provider’s stock valued at $244,362,000 after buying an additional 388,294 shares in the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.
About Brown & Brown
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.
Receive News & Ratings for Brown & Brown Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
