Brown & Brown (NYSE:BRO) Downgraded to “Hold” at StockNews.com

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

A number of other equities analysts have also recently weighed in on BRO. Truist Financial upped their price target on Brown & Brown from $112.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company upped their price target on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group upped their price target on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Bank of America upped their price target on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $105.67.

Brown & Brown Trading Up 0.5 %

Shares of NYSE:BRO traded up $0.48 during trading on Wednesday, reaching $106.34. 1,184,070 shares of the stock were exchanged, compared to its average volume of 1,301,393. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. Brown & Brown has a 12-month low of $66.73 and a 12-month high of $107.67. The firm has a market cap of $30.33 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83. The firm’s 50-day moving average price is $103.17 and its 200 day moving average price is $94.12.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, sell-side analysts anticipate that Brown & Brown will post 3.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The disclosure for this sale can be found here. Insiders own 17.02% of the company’s stock.

Institutional Investors Weigh In On Brown & Brown

Several institutional investors and hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC grew its stake in Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after buying an additional 228 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Brown & Brown in the 1st quarter worth about $32,000. Alaska Permanent Fund Corp bought a new stake in Brown & Brown in the 1st quarter valued at about $36,000. First PREMIER Bank acquired a new position in Brown & Brown during the 1st quarter valued at about $40,000. Finally, Larson Financial Group LLC boosted its stake in Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 211 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.