SunTrust Robinson Believes Brown & Brown (NYSE: BRO) Still Has Room to Grow

By Ryan Adsit

SunTrust Robinson analyst Mark Hughes reiterated a Buy rating on Brown & Brown (NYSE: BRO) today and set a price target of $33. The company’s shares opened today at $28.46, close to its 52-week high of $29.78.

According to TipRanks.com, Hughes is a 4-star analyst with an average return of 12.4% and a 70.3% success rate. Hughes covers the Financial sector, focusing on stocks such as Pro-Assurance Corp, Encore Capital, and HCI Group Inc.

Currently, the analyst consensus on Brown & Brown is a Moderate Buy with an average price target of $30.50.

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Based on Brown & Brown’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $73.9 million. In comparison, last year the company had a net profit of $64.46 million.

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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.