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BRO

Brown & Brown

$38.98

0.13 (0.33%)

06:46
12/17/19
12/17
06:46
12/17/19
06:46

Brown & Brown acquires assets of IMG

J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, and Mark K. Ackerman, the sole shareholder of Insurance Management Group, or IMG, announced that Brown & Brown of South Carolina has acquired substantially all of the assets of IMG. IMG was founded in 1977 and specializes in providing a wide range of employee benefits and property and casualty insurance products and services to businesses and individuals throughout South Carolina. Following the acquisition, the IMG team will operate from their existing office as a branch location of Brown & Brown's South Carolina retail operations under the leadership of Todd Tyler, Executive Vice President of Brown & Brown of South Carolina. Mike Keeby, a Regional President in Brown & Brown's Retail Segment, will have oversight responsibility over the newly combined South Carolina retail operations.

  • 26

    Feb

BRO Brown & Brown
$38.98

0.13 (0.33%)

10/09/19
RHCO
10/09/19
NO CHANGE
Target $42
RHCO
Buy
Brown & Brown price target raised to $42 from $40 at SunTrust
SunTrust analyst Mark Hughes raised his price target on Brown & Brown to $42 and kept his Buy rating ahead of its Q3 results, saying that its industry conditions are "marginally" improved with building momentum in its commercial pricing and wholesale volume slightly offset by seasonal moderation in coastal property. The analyst expects the company's results to be in-line or better than consensus while noting that its valuation is particularly "compelling" given the stock's highest free cash yield in its peer group.
12/05/19
MSCO
12/05/19
UPGRADE
Target $38
MSCO
Equal Weight
Brown & Brown upgraded to Equal Weight from Underweight at Morgan Stanley
Morgan Stanley analyst Michael Phillips upgraded Brown & Brown to Equal Weight from Underweight with a $38 price target.
12/05/19
MSCO
12/05/19
UPGRADE
Target $38
MSCO
Equal Weight
Morgan Stanley upgrades Brown & Brown to Equal Weight on better P&C pricing
As previously reported, Morgan Stanley analyst Michael Phillips upgraded Brown & Brown to Equal Weight from Underweight with a price target of $38, up from $34. The benefits of a better property and casualty, or P&C, pricing environment accrue directly to brokers, who collect commission on higher prices but don't pay claims, explained Phillips. He expects P&C pricing improvements to continue well into 2020, which will be a tailwind for Brown & Brown and drive organic revenue growth of about 4% for 2020-21, said the analyst. Additionally, Phillips notes that margins contracted each year in 2016-18, but from here he predicts margin expansion into 2021.
12/05/19
12/05/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL) upgraded to Buy at Stifel on forecast for durable growth with analyst Scott Devitt saying earlier this year he had concerns around topline deceleration, when revenue growth fell below 20% in Q1, but trends subsequently re-accelerated. 2. Facebook (FB) upgraded to Buy from Hold at Stifel with analyst John Egbert saying he is incrementally positive on the company's ability to sustain above-market ad revenue growth and maintain healthy levels of user growth and engagement following Facebook's Q3 earnings report. 3. Nike (NKE) upgraded to Conviction Buy from Neutral at Goldman Sachs with analyst Alexandra Walvis saying Nike is on the cusp of a "sharp acceleration" in earnings growth. 4. Brown & Brown (BRO) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Michael Phillips saying the benefits of a better property and casualty, or P&C, pricing environment accrue directly to brokers, who collect commission on higher prices but don't pay claims. 5. Yeti (YETI) upgraded to Buy from Neutral at Goldman Sachs with analyst Alexandra Walvis saying she increased her estimates to embed upside from the company's new distribution relationship with Lowe's (LOW). This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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  • 29

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  • 29

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$NSD

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$0.00

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BKR

Baker Hughes

$23.56

0.06 (0.26%)

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MDR

McDermott

$0.73

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AMGN

Amgen

$240.69

0.17 (0.07%)

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BKR

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SNCA

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AUPH

Aurinia Pharmaceuticals

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DLAKY

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TM

Toyota

$139.71

-0.32 (-0.23%)

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TM

Toyota

$139.71

-0.32 (-0.23%)

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AXTA

Axalta Coating

$30.30

0.225 (0.75%)

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