Brown & Brown (NYSE:BRO) Price Target Cut to $72.00 by Analysts at UBS Group

Brown & Brown (NYSE:BRO) had its target price lowered by investment analysts at UBS Group from $73.00 to $72.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group‘s price target would indicate a potential upside of 0.18% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Barclays reduced their target price on Brown & Brown from $76.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 7th. Keefe, Bruyette & Woods upgraded shares of Brown & Brown from an “underperform” rating to an “outperform” rating and set a $77.00 price objective on the stock in a report on Monday, October 12th. TD Cowen began coverage on shares of Brown & Brown in a research report on Monday, October 12th. They issued a “buy” rating and a $82.00 target price on the stock. Oppenheimer initiated coverage on shares of Brown & Brown in a report on Wednesday, October 7th. They issued an “outperform” rating and a $73.00 target price for the company. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Brown & Brown in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average price target of $75.47.

Brown & Brown Trading Up 3.0%

BRO stock traded up $2.11 during midday trading on Monday, hitting $71.87. The stock had a trading volume of 2,422,934 shares, compared to its average volume of 2,952,315. The company’s 50-day moving average price is $67.03 and its 200 day moving average price is $66.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a market cap of $23.84 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 2.28 and a beta of 0.52. Brown & Brown has a 12-month low of $53.81 and a 12-month high of $82.57.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a return on equity of 13.29% and a net margin of 17.63%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the company earned $1.05 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts predict that Brown & Brown will post 4.47 earnings per share for the current fiscal year.

Institutional Trading of Brown & Brown

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Brown & Brown during the 2nd quarter valued at $1,418,571,000. Deutsche Bank AG acquired a new position in Brown & Brown in the 2nd quarter worth $266,941,000. Bank of America Corp DE acquired a new position in Brown & Brown in the 2nd quarter worth $228,051,000. Madison Asset Management LLC purchased a new position in Brown & Brown in the 2nd quarter valued at about $138,630,000. Finally, Bank of New York Mellon Corp purchased a new position in Brown & Brown in the 2nd quarter valued at about $88,589,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

About Brown & Brown

Brown & Brown, Inc is an insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities, individuals and other organizations identify, manage and transfer risk by arranging insurance coverage and providing related advisory services.

Its operations include retail insurance brokerage, national programs, wholesale brokerage and services. Brown & Brown offers property and casualty insurance, employee benefits, personal insurance, surety and other specialized coverage.