Brown & Brown (NYSE:BRO) Stock Rating Upgraded by Mizuho

Brown & Brown (NYSE:BRO) was upgraded by analysts at Mizuho to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms also recently issued reports on BRO. Wells Fargo & Company decreased their price objective on shares of Brown & Brown from $98.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. UBS Group dropped their price target on Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Bank of America reissued a “neutral” rating and issued a $97.00 target price (down previously from $135.00) on shares of Brown & Brown in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Brown & Brown in a research note on Monday. Finally, Keefe, Bruyette & Woods cut their price objective on Brown & Brown from $92.00 to $79.00 and set an “underperform” rating on the stock in a report on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $101.71.

Brown & Brown Trading Down 0.2%

Shares of BRO stock opened at $80.78 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market cap of $27.58 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.93 and a beta of 0.82. The company has a 50-day moving average of $82.91 and a two-hundred day moving average of $94.01. Brown & Brown has a 1-year low of $76.17 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. On average, analysts predict that Brown & Brown will post 4.18 EPS for the current year.

Institutional Trading of Brown & Brown

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Brown & Brown by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock valued at $3,501,264,000 after acquiring an additional 1,705,570 shares in the last quarter. Capital World Investors grew its position in Brown & Brown by 81.1% in the 3rd quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider’s stock worth $1,639,392,000 after purchasing an additional 7,827,992 shares during the last quarter. Principal Financial Group Inc. increased its stake in Brown & Brown by 13.4% during the third quarter. Principal Financial Group Inc. now owns 15,416,190 shares of the financial services provider’s stock valued at $1,445,888,000 after acquiring an additional 1,821,229 shares during the period. State Street Corp lifted its position in Brown & Brown by 5.3% in the third quarter. State Street Corp now owns 13,120,826 shares of the financial services provider’s stock worth $1,230,602,000 after purchasing an additional 660,005 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Brown & Brown by 16.6% during the 2nd quarter. Geode Capital Management LLC now owns 7,369,576 shares of the financial services provider’s stock valued at $813,624,000 after acquiring an additional 1,050,350 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.