Shares of Brown & Brown Inc. (NYSE:BRO) saw unusually-high trading volume on Monday after Barclays PLC raised their price target on the stock from $31.00 to $33.00. Barclays PLC currently has an underweight rating on the stock. Approximately 533,299 shares traded hands during trading, a decline of 7% from the previous session’s volume of 574,366 shares.The stock last traded at $36.97 and had previously closed at $37.71.
Several other research firms have also weighed in on BRO. Royal Bank Of Canada boosted their target price on shares of Brown & Brown from $35.00 to $37.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 20th. JPMorgan Chase & Co. initiated coverage on shares of Brown & Brown in a research note on Tuesday, June 28th. They set an “underweight” rating and a $32.00 target price for the company. Compass Point boosted their target price on shares of Brown & Brown from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, July 20th. Zacks Investment Research upgraded shares of Brown & Brown from a “sell” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Tuesday, June 28th. Finally, BMO Capital Markets set a $38.00 price target on shares of Brown & Brown and gave the company a “hold” rating in a report on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $35.18.
In other Brown & Brown news, EVP Robert W. Lloyd sold 2,971 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $37.32, for a total value of $110,877.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.49% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of BRO. Findlay Park Partners LLP boosted its stake in shares of Brown & Brown by 73.7% in the first quarter. Findlay Park Partners LLP now owns 4,033,036 shares of the company’s stock valued at $144,383,000 after buying an additional 1,711,741 shares during the period. Norges Bank bought a new stake in Brown & Brown during the fourth quarter valued at about $42,506,000. Thompson Siegel & Walmsley LLC bought a new stake in Brown & Brown during the second quarter valued at about $31,155,000. Vanguard Group Inc. increased its stake in Brown & Brown by 3.9% in the second quarter. Vanguard Group Inc. now owns 9,449,167 shares of the company’s stock valued at $354,061,000 after buying an additional 354,704 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Brown & Brown by 320.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 432,391 shares of the company’s stock valued at $16,202,000 after buying an additional 329,648 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.
The stock has a 50 day moving average of $37.20 and a 200-day moving average of $36.21. The company has a market cap of $5.19 billion, a PE ratio of 20.74 and a beta of 0.93.
Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, July 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. Brown & Brown had a return on equity of 11.68% and a net margin of 14.87%. The firm earned $446.50 million during the quarter, compared to analyst estimates of $439.70 million. During the same period in the prior year, the company posted $0.43 earnings per share. Analysts expect that Brown & Brown Inc. will post $1.81 earnings per share for the current year.
About Brown & Brown
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 customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.
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.