In a report released yesterday, Meyer Shields from KBW assigned a Sell rating to Brown & Brown (BRO – Research Report), with a price target of $80.00. The company’s shares closed yesterday at $82.50.
Shields covers the Financial sector, focusing on stocks such as Progressive, Allstate, and American Financial Group. According to TipRanks, Shields has an average return of 13.8% and a 73.03% success rate on recommended stocks.
In addition to KBW, Brown & Brown also received a Sell from Bank of America Securities’s Grace Carter in a report issued on April 10. However, on April 15, Citi maintained a Buy rating on Brown & Brown (NYSE: BRO).
The company has a one-year high of $87.99 and a one-year low of $59.58. Currently, Brown & Brown has an average volume of 1.24M.
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Brown & Brown (BRO) Company Description:
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.
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