Wells Fargo Issues a Hold Rating on Brown & Brown

By Carrie Williams

In a report released yesterday, Elyse Greenspan from Wells Fargo reiterated a Hold rating on Brown & Brown (NYSE: BRO). The company’s shares closed yesterday at $41.93.

According to TipRanks.com, Greenspan is a 2-star analyst with an average return of 3.1% and a 41.7% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Renaissancere Holdings Ltd, and Arthur J Gallagher & Co.

Currently, the analyst consensus on Brown & Brown is Hold and the average price target is $44, representing a 4.9% upside.

In a report issued on April 7, KBW also reiterated a Hold rating on the stock with a $42 price target.

Brown & Brown’s market cap is currently $5.79B and has a P/E ratio of 22.70. The company has a book value ratio of 2.4528.

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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.