Brown & Brown (NYSE:BRO) Now Covered by Analysts at UBS Group

Research analysts at UBS Group initiated coverage on shares of Brown & Brown (NYSE:BROGet Rating) in a report released on Monday, The Fly reports. The brokerage set a “neutral” rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company increased their target price on Brown & Brown from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 4th. Truist Financial increased their target price on Brown & Brown from $72.00 to $77.00 in a research report on Friday, January 14th. Royal Bank of Canada raised their price target on Brown & Brown from $64.00 to $67.00 and gave the company a “sector perform” rating in a report on Wednesday, January 26th. Zacks Investment Research cut Brown & Brown from a “buy” rating to a “hold” rating and set a $67.00 price target for the company. in a report on Thursday, January 27th. Finally, Raymond James raised their price target on Brown & Brown from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, December 21st. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $68.22.

NYSE BRO opened at $71.26 on Monday. The stock’s 50-day moving average price is $68.51 and its 200-day moving average price is $66.33. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.47. Brown & Brown has a 52 week low of $48.45 and a 52 week high of $74.00. The company has a market capitalization of $20.18 billion, a P/E ratio of 34.43 and a beta of 0.74.

Brown & Brown (NYSE:BROGet Rating) last released its earnings results on Monday, January 24th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Brown & Brown had a return on equity of 15.43% and a net margin of 19.24%. The firm had revenue of $738.50 million during the quarter, compared to analysts’ expectations of $725.36 million. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. Research analysts anticipate that Brown & Brown will post 2.32 EPS for the current year.

In related news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the stock in a transaction dated Thursday, January 27th. The stock was acquired at an average cost of $61.53 per share, with a total value of $123,060.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.67% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Brown & Brown by 2.4% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,278 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 149 shares during the last quarter. WCM Investment Management LLC lifted its stake in shares of Brown & Brown by 0.7% during the 4th quarter. WCM Investment Management LLC now owns 22,524 shares of the financial services provider’s stock worth $1,583,000 after acquiring an additional 167 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Brown & Brown by 0.5% during the 4th quarter. HighTower Advisors LLC now owns 36,040 shares of the financial services provider’s stock worth $2,532,000 after acquiring an additional 167 shares during the last quarter. Claro Advisors LLC lifted its stake in shares of Brown & Brown by 4.5% during the 4th quarter. Claro Advisors LLC now owns 3,937 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 171 shares during the last quarter. Finally, Signaturefd LLC raised its position in Brown & Brown by 15.0% during the 3rd quarter. Signaturefd LLC now owns 1,381 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 180 shares in the last quarter. 74.02% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Company Profile (Get Rating)

Brown & Brown, Inc markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services.

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