Brown & Brown Receives a Hold from RBC Capital

By Austin Angelo

RBC Capital analyst Mark Dwelle reiterated a Hold rating on Brown & Brown (NYSE: BRO) yesterday and set a price target of $44. The company’s shares closed yesterday at $44.01, close to its 52-week high of $45.77.

According to TipRanks.com, Dwelle is a top 100 analyst with an average return of 14.3% and a 86.9% success rate. Dwelle covers the Financial sector, focusing on stocks such as American Equity Investment Life, American International Group, and Marsh & Mclennan Companies.

Currently, the analyst consensus on Brown & Brown is Hold and the average price target is $44.33, representing a 0.7% upside.

In a report issued on June 2, KBW also reiterated a Hold rating on the stock with a $42 price target.

Brown & Brown’s market cap is currently $6.17B and has a P/E ratio of 23.53. The company has a book value ratio of 2.5555.

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Brown & Brown, Inc. 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 provides a broad range of insurance products and services to commercial, public entity, professional, and individual customers. The National Programs segment provides professional liability and related package products for certain professionals delivered through nationwide networks of independent agents, and markets targeted products and services designed for specific industries, trade groups, public and quasi-public entities, and market niches. The Wholesale Brokerage segment markets and sells excess and surplus commercial and personal insurance and reinsurance, primarily through independent agents and brokers. The Services segment provides insurance-related services. The company was founded by J. Adrian Brown and Charles Covington Owen in 1939 and is headquartered in Daytona Beach, FL.