Brown & Brown’s (BRO) Hold Rating Reiterated at Wells Fargo & Co

Wells Fargo & Co reaffirmed their hold rating on shares of Brown & Brown, Inc. (NYSE:BRO) in a research note published on Tuesday morning.

A number of other equities analysts also recently commented on the stock. Citigroup Inc reduced their target price on shares of Brown & Brown from $47.00 to $45.00 and set a neutral rating for the company in a report on Friday, April 7th. Zacks Investment Research upgraded shares of Brown & Brown from a sell rating to a hold rating in a report on Wednesday, March 29th. Barclays PLC reiterated a sell rating and issued a $39.00 target price on shares of Brown & Brown in a report on Monday, January 9th. Finally, Langen Mcalenn reiterated a buy rating on shares of Brown & Brown in a report on Friday, December 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $39.38.

Brown & Brown (NYSE:BRO) opened at 42.63 on Tuesday. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 23.42 and a beta of 0.73. The firm has a 50-day moving average of $42.52 and a 200 day moving average of $41.94. Brown & Brown has a one year low of $34.27 and a one year high of $45.77.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, April 17th. The financial services provider reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The business earned $465.10 million during the quarter, compared to the consensus estimate of $443.76 million. Brown & Brown had a net margin of 14.57% and a return on equity of 11.57%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. Equities research analysts predict that Brown & Brown will post $1.88 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Brown & Brown’s (BRO) Hold Rating Reiterated at Wells Fargo & Co” was originally published by sleekmoney and is the property of of sleekmoney. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at http://sleekmoney.com/brown-browns-bro-hold-rating-reiterated-at-wells-fargo-co/1752679.html.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 17th. Stockholders of record on Monday, May 8th will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.54 annualized dividend and a dividend yield of 1.26%. Brown & Brown’s dividend payout ratio (DPR) is currently 29.67%.

Institutional investors have recently bought and sold shares of the stock. TLP Group LLC bought a new position in Brown & Brown during the third quarter valued at about $113,000. Mosaic Family Wealth LLC increased its position in Brown & Brown by 10.9% in the third quarter. Mosaic Family Wealth LLC now owns 3,858 shares of the financial services provider’s stock valued at $145,000 after buying an additional 379 shares during the period. Seven Eight Capital LP bought a new position in Brown & Brown during the fourth quarter valued at about $188,000. Teza Capital Management LLC bought a new position in Brown & Brown during the fourth quarter valued at about $210,000. Finally, GSA Capital Partners LLP bought a new position in Brown & Brown during the fourth quarter valued at about $218,000. Hedge funds and other institutional investors own 72.27% of the company’s stock.

Brown & Brown Company Profile

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.

5 Day Chart for NYSE:BRO

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/brown-browns-bro-hold-rating-reiterated-at-wells-fargo-co/1752679.html

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.

 

Leave a Reply

Your email address will not be published. Required fields are marked *