Brown & Brown (NYSE:BRO) Stock Rating Lowered by StockNews.com

Brown & Brown (NYSE:BRO) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other equities research analysts have also issued reports on BRO. Raymond James upped their price target on Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Citigroup raised their target price on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Keefe, Bruyette & Woods increased their price target on Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a research report on Friday, May 3rd. Truist Financial raised their price objective on Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada raised their price target on Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $89.40.

Brown & Brown Stock Up 0.5 %

BRO opened at $90.52 on Thursday. The firm has a 50 day moving average price of $88.77 and a 200 day moving average price of $83.02. The company has a market cap of $25.82 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 2.37 and a beta of 0.82. Brown & Brown has a 1 year low of $66.73 and a 1 year high of $93.75. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. Brown & Brown’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 EPS. Sell-side analysts expect that Brown & Brown will post 3.61 earnings per share for the current year.

Insider Transactions at Brown & Brown

In other news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $89.92, for a total transaction of $301,232.00. Following the sale, the executive vice president now owns 23,597 shares of the company’s stock, valued at approximately $2,121,842.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.43% of the stock is owned by insiders.

Institutional Trading of Brown & Brown

Several institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Brown & Brown in the 2nd quarter valued at $1,738,000. DNB Asset Management AS increased its holdings in Brown & Brown by 7.6% in the second quarter. DNB Asset Management AS now owns 41,976 shares of the financial services provider’s stock valued at $3,753,000 after purchasing an additional 2,965 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Brown & Brown by 28.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 916 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 201 shares during the last quarter. First Hawaiian Bank grew its stake in Brown & Brown by 2.0% in the second quarter. First Hawaiian Bank now owns 30,967 shares of the financial services provider’s stock valued at $2,769,000 after acquiring an additional 599 shares during the period. Finally, GAMMA Investing LLC grew its stake in Brown & Brown by 43.0% in the second quarter. GAMMA Investing LLC now owns 5,776 shares of the financial services provider’s stock valued at $516,000 after acquiring an additional 1,738 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.