Brown & Brown (BRO) announced that all of the brands currently under its Retail segment will be unified under the brand name Brown & Brown, effective January 1, 2021.
By collaborating under a single brand name, Brown & Brown will be able to connect with its customers nationally. Furthermore, it will better serve its clients by simplifying and streamlining its resources across the company.
Furthermore, the single brand will increase the clarity and visibility of its wide range of offerings across commercial insurance, employee benefits, personal lines, and other offerings.
In addition, Brown & Brown plans to unveil a new logo for its Retail segment and launch a new, unified retail website and LinkedIn page in January. (See BRO stock charts on TipRanks)
Notably, the brand unification is only applicable to the company’s Retail segment and does not pertain to its National Programs, Bridge Specialty Group, or the Services segment.
Brown & Brown CEO J. Powell Brown commented, “Our ability to collaborate across a unified Retail brand will aid us in accelerating growth that can be reinvested in additional product innovation, teammates, technology and resources.”
Wolfe Research analyst Michael Zaremski initiated coverage of Brown & Brown with a Hold rating and a price target of $61 (1.2% upside potential).
Consensus among analysts is a Moderate Buy based on 2 Buys and 4 Holds. The average Brown & Brown price target of $58.83 implies 2.4% downside potential from current levels.
TipRanks data shows that financial blogger opinions are 100% Bullish on BRO, compared to a sector average of 72%.
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