On July 30, Brown & Brown fell 5.12% in regular trading, trading at $70.13 USD/share, with turnover of $39.63 million.
On the news front, Citigroup downgraded Brown & Brown from Buy to Neutral on July 29, setting a price target of $79. The downgrade comes after the company reported Q2 organic revenue contraction of 0.7% year-over-year, primarily dragged by weakness in property lines. Q2 adjusted EPS of $1.07 missed consensus of $1.08, while revenue of $1.676 billion fell short of the $1.715 billion estimate, representing a 2.3% miss on the top line.
The decline was amplified by broad selling across the insurance brokerage sector. Among peers, Ryan Specialty fell 6.39%, Arthur J. Gallagher dropped 5.38%, Aon declined 4.59%, and Marsh lost 4.32%. UBS noted that while margin performance and capital discipline remained solid, organic growth softened materially. RBC expects only low-single digit organic revenue growth extending into the following year.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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