Brown & Brown (NYSE:BRO) Price Target Increased to $42.00 by Analysts at SunTrust Banks

Brown & Brown (NYSE:BRO) had its target price lifted by SunTrust Banks from $40.00 to $42.00 in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. SunTrust Banks currently has a buy rating on the financial services provider’s stock. The analysts noted that the move was a valuation call.

Several other equities research analysts have also issued reports on BRO. ValuEngine lowered Brown & Brown from a sell rating to a strong sell rating in a research report on Wednesday, October 2nd. Barclays raised their target price on Brown & Brown from $28.00 to $30.00 and gave the company an underweight rating in a research report on Wednesday, October 2nd. Morgan Stanley increased their price target on Brown & Brown from $30.00 to $33.00 and gave the stock an underweight rating in a research note on Thursday, July 25th. Finally, Raymond James increased their price target on Brown & Brown from $35.00 to $38.00 and gave the stock an outperform rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $33.33.

Shares of Brown & Brown stock opened at $36.04 on Wednesday. Brown & Brown has a 1 year low of $25.72 and a 1 year high of $37.20. The firm has a market cap of $10.01 billion, a PE ratio of 25.98, a P/E/G ratio of 2.55 and a beta of 0.68. The stock has a fifty day moving average price of $36.10 and a 200-day moving average price of $33.72. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.95.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. Brown & Brown had a return on equity of 12.64% and a net margin of 17.28%. The firm had revenue of $575.20 million during the quarter, compared to analyst estimates of $554.35 million. During the same period last year, the firm posted $0.26 EPS. The business’s revenue was up 21.6% compared to the same quarter last year. As a group, equities analysts anticipate that Brown & Brown will post 1.39 EPS for the current fiscal year.

In other news, Director H Palmer Proctor, Jr. purchased 5,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was bought at an average price of $35.96 per share, for a total transaction of $179,800.00. Following the purchase, the director now owns 29,353 shares of the company’s stock, valued at $1,055,533.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.69% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in shares of Brown & Brown during the 2nd quarter worth $3,094,000. First Trust Advisors LP boosted its stake in Brown & Brown by 16.9% in the 1st quarter. First Trust Advisors LP now owns 450,376 shares of the financial services provider’s stock worth $13,291,000 after purchasing an additional 65,249 shares during the period. Signaturefd LLC boosted its stake in Brown & Brown by 42.8% in the 2nd quarter. Signaturefd LLC now owns 1,247 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 374 shares during the period. NN Investment Partners Holdings N.V. boosted its stake in Brown & Brown by 3.6% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 4,226,161 shares of the financial services provider’s stock worth $141,576,000 after purchasing an additional 145,025 shares during the period. Finally, Unigestion Holding SA boosted its stake in Brown & Brown by 58.1% in the 2nd quarter. Unigestion Holding SA now owns 164,796 shares of the financial services provider’s stock worth $5,521,000 after purchasing an additional 60,531 shares during the period. Institutional investors own 70.13% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

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Analyst Recommendations for Brown & Brown (NYSE:BRO)

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