Edward Jones Initiates Coverage on Brown & Brown (NYSE:BRO)

Investment analysts at Edward Jones started coverage on shares of Brown & Brown (NYSE:BRO - Get Free Report) in a report released on Wednesday, MarketBeat reports. The brokerage set a "buy" rating on the financial services provider's stock.

A number of other research analysts have also issued reports on the stock. UBS Group upped their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. Morgan Stanley reissued an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. Bank of America increased their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Jefferies Financial Group increased their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Finally, Wells Fargo & Company upped their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $117.50.

Brown & Brown Stock Performance

Brown & Brown stock traded down $3.85 during trading hours on Wednesday, reaching $113.37. 424,322 shares of the stock were exchanged, compared to its average volume of 1,430,940. Brown & Brown has a 52-week low of $80.87 and a 52-week high of $125.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The firm's 50 day moving average is $117.44 and its 200 day moving average is $110.14. The stock has a market cap of $32.42 billion, a P/E ratio of 32.77, a P/E/G ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Analysts predict that Brown & Brown will post 4.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Brown & Brown in the fourth quarter valued at $313,412,000. First Trust Advisors LP grew its position in shares of Brown & Brown by 626.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock worth $239,751,000 after acquiring an additional 2,026,589 shares in the last quarter. Madison Investment Advisors LLC bought a new position in Brown & Brown during the fourth quarter worth $198,031,000. Vanguard Group Inc. increased its stake in Brown & Brown by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after purchasing an additional 1,335,964 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Brown & Brown by 13,974.9% in the 1st quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider's stock worth $138,427,000 after buying an additional 1,104,852 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 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.