Brown & Brown (BRO) Earns Hold Rating from Wells Fargo & Co

Brown & Brown (NYSE:BRO)‘s stock had its “hold” rating reissued by research analysts at Wells Fargo & Co in a research note issued to investors on Sunday, AnalystRatings.com reports. They presently have a $28.00 target price on the financial services provider’s stock. Wells Fargo & Co‘s target price suggests a potential downside of 8.23% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Monday, December 31st. ValuEngine raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.30.

NYSE:BRO opened at $30.51 on Friday. Brown & Brown has a 12 month low of $25.72 and a 12 month high of $31.55. The company has a market capitalization of $8.55 billion, a PE ratio of 24.80, a PEG ratio of 2.30 and a beta of 0.73. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.95 and a current ratio of 0.95.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. Brown & Brown had a net margin of 17.09% and a return on equity of 12.03%. The company had revenue of $617.50 million for the quarter, compared to analyst estimates of $600.51 million. During the same quarter last year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. Analysts predict that Brown & Brown will post 1.33 earnings per share for the current fiscal year.

In other Brown & Brown news, EVP Anthony T. Strianese sold 35,000 shares of Brown & Brown 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 filing with the SEC, which is accessible through this link. Also, EVP Robert W. Lloyd sold 10,601 shares of Brown & Brown stock in a transaction on Wednesday, March 6th. The stock was 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.

A number of institutional investors and hedge funds have recently bought and sold shares of BRO. Quantamental Technologies LLC acquired a new stake in Brown & Brown during the fourth quarter worth $42,000. IFP Advisors Inc boosted its stake in Brown & Brown by 57.5% during the fourth quarter. IFP Advisors Inc now owns 2,249 shares of the financial services provider’s stock worth $61,000 after buying an additional 821 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in Brown & Brown during the fourth quarter worth $84,000. Oregon Public Employees Retirement Fund boosted its stake in Brown & Brown by 2,656.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,498,507 shares of the financial services provider’s stock worth $91,000 after buying an additional 2,407,850 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Brown & Brown during the fourth quarter worth $99,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.

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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