Today: The Brown & Brown Inc. (BRO) Given New $41.00 Price Target at Citigroup Inc.

The Brown & Brown Inc. (BRO) Given New $41.00 Price Target at Citigroup Inc.

Brown & Brown Inc. (NYSE:BRO) had its price target increased by Citigroup Inc. from $38.00 to $41.00 in a research report report published on Tuesday. Citigroup Inc. currently has a neutral rating on the stock.

Several other equities research analysts have also commented on BRO. Barclays PLC boosted their target price on shares of Brown & Brown from $30.00 to $31.00 and gave the stock an underweight rating in a research report on Tuesday, July 19th. BMO Capital Markets set a $38.00 price objective on shares of Brown & Brown and gave the stock a hold rating in a research report on Wednesday, July 20th. Compass Point boosted their price objective on shares of Brown & Brown from $34.00 to $37.00 and gave the stock a neutral rating in a research report 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 price objective on the stock in a research report on Tuesday, June 28th. Finally, RBC Capital Markets reiterated a sector perform rating and issued a $37.00 price objective (up from $35.00) on shares of Brown & Brown in a research report on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $35.67.

Shares of Brown & Brown (NYSE:BRO) traded up 1.07% on Tuesday, reaching $37.66. 88,862 shares of the company’s stock traded hands. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 21.04 and a beta of 0.93. The stock’s 50-day moving average price is $37.44 and its 200-day moving average price is $36.32. Brown & Brown has a 52 week low of $28.41 and a 52 week high of $38.69.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, July 18th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. The company had revenue of $446.50 million for the quarter, compared to analyst estimates of $439.70 million. Brown & Brown had a net margin of 14.87% and a return on equity of 11.68%. During the same period in the previous year, the firm earned $0.43 EPS. Equities analysts predict that Brown & Brown will post $1.81 EPS for the current year.

In other news, EVP Robert W. Lloyd sold 2,971 shares of the company’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $37.32, for a total transaction of $110,877.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.49% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Brown & Brown by 4.8% in the first quarter. Geode Capital Management LLC now owns 721,236 shares of the company’s stock worth $25,820,000 after buying an additional 32,778 shares in the last quarter. State Treasurer State of Michigan increased its position in Brown & Brown by 244.7% in the second quarter. State Treasurer State of Michigan now owns 158,200 shares of the company’s stock worth $5,928,000 after buying an additional 112,300 shares in the last quarter. TD Asset Management Inc. increased its position in Brown & Brown by 7.0% in the second quarter. TD Asset Management Inc. now owns 65,453 shares of the company’s stock worth $2,453,000 after buying an additional 4,300 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Brown & Brown by 5.5% in the first quarter. TIAA CREF Investment Management LLC now owns 195,236 shares of the company’s stock worth $6,989,000 after buying an additional 10,213 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Brown & Brown by 39.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 8,862 shares of the company’s stock worth $332,000 after buying an additional 2,492 shares in the last quarter. 72.81% of the stock is owned by institutional investors.

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