Brown & Brown, Inc. (NYSE:BRO) PT Raised to $46.00

Brown & Brown, Inc. (NYSE:BRO) had its target price lifted by equities research analysts at Citigroup Inc. from $45.00 to $46.00 in a research note issued on Thursday. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 6.24% from the company’s current price.

A number of other research firms also recently commented on BRO. BidaskClub downgraded Brown & Brown from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Royal Bank Of Canada restated a “hold” rating on shares of Brown & Brown in a report on Monday, May 8th. Zacks Investment Research downgraded Brown & Brown from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. SunTrust Banks, Inc. restated a “hold” rating and set a $46.00 price objective (up from $44.00) on shares of Brown & Brown in a report on Friday, May 19th. Finally, Wells Fargo & Company restated a “hold” rating on shares of Brown & Brown in a report on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $42.57.

Brown & Brown (BRO) opened at 43.30 on Thursday. The stock’s 50 day moving average price is $43.19 and its 200 day moving average price is $43.24. Brown & Brown has a 52-week low of $35.81 and a 52-week high of $45.77. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 23.16 and a beta of 0.77.

This article was originally published by and is the sole property of Zolmax. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of U.S. and International copyright law. The original version of this story can be read at https://zolmax.com/investing/brown-brown-inc-nysebro-pt-raised-to-46-00/1524933.html

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, April 17th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $465.10 million during the quarter, compared to the consensus estimate of $443.76 million. Brown & Brown had a return on equity of 11.29% and a net margin of 14.68%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. On average, analysts forecast that Brown & Brown will post $1.84 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Wednesday, August 9th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.54 annualized dividend and a yield of 1.25%. Brown & Brown’s dividend payout ratio is currently 28.88%.

COPYRIGHT VIOLATION WARNING: This news story was posted by Zolmax and is the sole property of of Zolmax. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The correct version of this news story can be read at https://zolmax.com/investing/brown-brown-inc-nysebro-pt-raised-to-46-00/1524933.html.

In related news, EVP Anthony T. Strianese sold 24,562 shares of the stock in a transaction on Friday, April 21st. The stock was sold at an average price of $42.24, for a total value of $1,037,498.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.98% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of BRO. Glen Harbor Capital Management LLC boosted its position in Brown & Brown by 2.3% in the first quarter. Glen Harbor Capital Management LLC now owns 3,632 shares of the financial services provider’s stock worth $152,000 after buying an additional 80 shares during the last quarter. Mosaic Family Wealth LLC boosted its position in Brown & Brown by 3.0% in the first quarter. Mosaic Family Wealth LLC now owns 3,973 shares of the financial services provider’s stock worth $166,000 after buying an additional 115 shares during the last quarter. Pzena Investment Management LLC purchased a new position in Brown & Brown during the first quarter worth $206,000. Tyers Asset Management LLC boosted its position in Brown & Brown by 2.3% in the first quarter. Tyers Asset Management LLC now owns 4,994 shares of the financial services provider’s stock worth $208,000 after buying an additional 110 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Brown & Brown during the fourth quarter worth $218,000. 72.65% of the stock is owned by institutional investors.

About Brown & Brown

Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.

Analyst Recommendations for Brown & Brown (NYSE:BRO)

Receive News & Ratings for Brown & Brown Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Bristol-Myers Squibb Company  Given News Sentiment Rating of 0.31
Bristol-Myers Squibb Company Given News Sentiment Rating of 0.31
CIT Group Inc   PT Raised to $54.00 at JMP Securities
CIT Group Inc PT Raised to $54.00 at JMP Securities
Off Wall Street Initiates Coverage on American Axle & Manufacturing Holdings, Inc.
Off Wall Street Initiates Coverage on American Axle & Manufacturing Holdings, Inc.
Brandywine Realty Trust  Earns Coverage Optimism Score of 0.31
Brandywine Realty Trust Earns Coverage Optimism Score of 0.31
Brown & Brown, Inc.  PT Raised to $46.00
Brown & Brown, Inc. PT Raised to $46.00
Xact Kapitalforvaltning AB Buys 1,199 Shares of Newmont Mining Corporation
Xact Kapitalforvaltning AB Buys 1,199 Shares of Newmont Mining Corporation


Leave a Reply

 
© 2006-2017 Zolmax.