Brown & Brown, Inc. (BRO) Given Average Rating of “Hold” by Analysts

Shares of Brown & Brown, Inc. (NYSE:BRO) have earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $29.33.

Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of Brown & Brown from a “hold” rating to a “sell” rating in a report on Monday, March 25th. ValuEngine upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd.

In other news, EVP Anthony T. Strianese sold 35,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were 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 SEC, which can be accessed through this link. Also, EVP Robert W. Lloyd sold 10,601 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $29.29, for a total transaction of $310,503.29. The disclosure for this sale can be found here. Insiders own 16.69% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc lifted its stake in shares of Brown & Brown by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 24,202,436 shares of the financial services provider’s stock valued at $715,666,000 after purchasing an additional 525,399 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Brown & Brown by 4.0% in the 4th quarter. BlackRock Inc. now owns 21,351,938 shares of the financial services provider’s stock valued at $588,460,000 after purchasing an additional 828,759 shares during the last quarter. Select Equity Group L.P. lifted its stake in shares of Brown & Brown by 47.7% in the 3rd quarter. Select Equity Group L.P. now owns 8,259,952 shares of the financial services provider’s stock valued at $244,247,000 after purchasing an additional 2,668,708 shares during the last quarter. APG Asset Management N.V. lifted its stake in shares of Brown & Brown by 39.5% in the 4th quarter. APG Asset Management N.V. now owns 4,501,200 shares of the financial services provider’s stock valued at $108,519,000 after purchasing an additional 1,273,500 shares during the last quarter. Finally, Fenimore Asset Management Inc. lifted its stake in shares of Brown & Brown by 5.3% in the 1st quarter. Fenimore Asset Management Inc. now owns 2,973,331 shares of the financial services provider’s stock valued at $87,743,000 after purchasing an additional 149,028 shares during the last quarter. 72.24% of the stock is owned by institutional investors and hedge funds.

NYSE BRO traded up $0.16 on Thursday, hitting $30.57. 895,814 shares of the stock were exchanged, compared to its average volume of 1,021,273. Brown & Brown has a 52-week low of $25.72 and a 52-week high of $31.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 2.31 and a beta of 0.73.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). Brown & Brown had a net margin of 17.09% and a return on equity of 12.03%. The company had revenue of $508.70 million for the quarter, compared to analysts’ expectations of $503.52 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. On average, research analysts forecast that Brown & Brown will post 1.33 EPS for the current fiscal year.

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.

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Analyst Recommendations for Brown & Brown (NYSE:BRO)

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