Brown & Brown (BRO) Receives a Buy from Raymond James


In a report released yesterday, Charles Peters from Raymond James maintained a Buy rating on Brown & Brown (BRO). The company’s shares closed last Monday at $47.73, close to its 52-week high of $48.76.

According to TipRanks.com, Peters is a 5-star analyst with an average return of 10.6% and a 69.6% success rate. Peters covers the Financial sector, focusing on stocks such as Argo Group International Holdings, American Equity Investment Life, and Hallmark Financial Services.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Brown & Brown with a $51.67 average price target, which is an 9.0% upside from current levels. In a report issued on January 18, KBW also upgraded the stock to Buy with a $54.00 price target.

See today’s analyst top recommended stocks >>

Based on Brown & Brown’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $671 million and net profit of $134 million. In comparison, last year the company earned revenue of $617 million and had a net profit of $116 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Brown & Brown, Inc. is an insurance agency, wholesale brokerage, insurance programs 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. The Retail Segment receives fees in lieu of commissions. The National Programs segment acts as a managing general agent and provides professional liability and related package products for certain professionals, a range of insurance products for individuals, flood coverage, and targeted products and services designated for specific industries, trade groups, governmental entities and market niches. The Wholesale Brokerage segment markets and sells excess and surplus commercial and personal lines insurance, primarily through independent agents and brokers, as well as company’s retail agents. The Services segment provides insurance-related services, including third-party claims administration and comprehensive medical utilization management services in both the workers’ compensation and all-lines liability arenas, as well as medicare Set-aside services, social security disability and medicare benefits advocacy services and claims adjusting services. The company was founded by J. Adrian Brown and Charles Covington Owen in 1939 and is headquartered in Daytona Beach, FL.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts