Brown & Brown (NYSE:BRO) Given New $72.00 Price Target at UBS Group

Key Points

• UBS Group cut Brown & Brown’s price target from $73 to $72 while maintaining a “neutral” rating, implying only 0.18% upside from the prior close.
• Analyst sentiment remains broadly cautious: Brown & Brown has an average “Hold” rating and a consensus price target of $75.47, with 13 analysts rating it a Hold.
• The stock traded at $71.87, while the company’s latest quarterly results slightly missed expectations: EPS was $1.07 versus $1.08 expected, and revenue was $1.70 billion versus $1.76 billion forecast.

Brown & Brown (NYSE:BRO - Get Free Report) had its price target cut by research analysts at UBS Group from $73.00 to $72.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. UBS Group's price objective suggests a potential upside of 0.18% from the company's previous close.

BRO has been the topic of several other reports. JPMorgan Chase & Co. upped their target price on shares of Brown & Brown from $80.00 to $83.00 and gave the stock a "neutral" rating in a research report on Thursday, October 1st. Royal Bank Of Canada restated a "sector perform" rating on shares of Brown & Brown in a report on Wednesday, July 29th. Citizens Jmp dropped their price objective on Brown & Brown from $78.00 to $75.00 and set a "market outperform" rating for the company in a research note on Monday, October 12th. Morgan Stanley reduced their price objective on Brown & Brown from $60.00 to $55.00 and set an "underweight" rating for the company in a report on Tuesday, October 6th. Finally, Weiss Ratings upgraded Brown & Brown from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Brown & Brown has an average rating of "Hold" and an average target price of $75.47.

Brown & Brown Stock Performance

Shares of NYSE:BRO 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 has a market capitalization of $23.84 billion, a PE ratio of 22.74, a P/E/G ratio of 2.28 and a beta of 0.52. The stock has a 50 day moving average price of $67.03 and a two-hundred day moving average price of $66.84. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.58. Brown & Brown has a 1 year low of $53.81 and a 1 year high of $82.57.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data on Monday, October 26th. The financial services provider reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.01). The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.76 billion. Brown & Brown had a net margin of 17.63% and a return on equity of 13.29%. Brown & Brown's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. As a group, equities analysts predict that Brown & Brown will post 4.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brown & Brown

A number of large investors have recently bought and sold shares of BRO. Continuum Advisory LLC purchased a new stake in shares of Brown & Brown in the second quarter valued at $34,000. Allied Private Wealth LLC purchased a new stake in Brown & Brown during the 2nd quarter worth about $35,000. Johnson Financial Group Inc. purchased a new stake in Brown & Brown during the 2nd quarter worth about $37,000. Manchester Capital Management LLC increased its position in Brown & Brown by 853.3% during the 3rd quarter. Manchester Capital Management LLC now owns 572 shares of the financial services provider's stock worth $38,000 after purchasing an additional 512 shares in the last quarter. Finally, Elevation Wealth Partners LLC raised its stake in Brown & Brown by 175.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 619 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 394 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

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.

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