Brown & Brown (NYSE:BRO) Price Target Cut to $65.00 by Analysts at UBS Group

Brown & Brown (NYSE:BRO) had its price objective decreased by research analysts at UBS Group from $81.00 to $65.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s target price points to a potential upside of 9.59% from the company’s current price.

Several other equities research analysts also recently issued reports on BRO. Bank of America decreased their price target on Brown & Brown from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Citigroup began coverage on shares of Brown & Brown in a research report on Thursday, May 21st. They set a “market outperform” rating on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Mizuho dropped their target price on shares of Brown & Brown from $85.00 to $84.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Finally, Royal Bank Of Canada dropped their price target on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $78.44.

Brown & Brown Trading Up 2.3%

NYSE BRO traded up $1.31 on Tuesday, hitting $59.31. The company’s stock had a trading volume of 518,736 shares, compared to its average volume of 3,319,016. The company’s 50-day moving average is $61.49 and its 200 day moving average is $70.34. The firm has a market cap of $20.10 billion, a PE ratio of 19.02, a PEG ratio of 2.71 and a beta of 0.63. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. Brown & Brown has a 1-year low of $53.81 and a 1-year high of $111.10.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business earned $1.29 EPS. Brown & Brown’s quarterly revenue was up 35.4% compared to the same quarter last year. As a group, analysts predict that Brown & Brown will post 4.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Brown & Brown

In other news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were purchased at an average price of $57.10 per share, with a total value of $114,200.00. Following the completion of the acquisition, the director owned 47,621 shares in the company, valued at $2,719,159.10. This trade represents a 4.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On Brown & Brown

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRO. Darwin Wealth Management LLC purchased a new position in Brown & Brown in the 2nd quarter worth approximately $30,000. Basepoint Wealth LLC purchased a new stake in shares of Brown & Brown during the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Brown & Brown during the 1st quarter worth $25,000. DV Equities LLC bought a new stake in shares of Brown & Brown during the 4th quarter worth $33,000. Finally, Board of the Pension Protection Fund purchased a new position in Brown & Brown in the fourth quarter worth $40,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.