Brown & Brown price target lowered to $97 from $99 at Keefe Bruyette

Keefe Bruyette lowered the firm’s price target on Brown & Brown to $97 from $99 and keeps an Underperform rating on the shares as part of a Q4 earnings preview for the property and casualty sector. The results will include slowing written commercial and specialty premium growth, as well as “significant but manageable” reinsured catastrophe losses from hurricanes, the analyst tells investors in a research note. Keefe mostly raised Q4 catastrophe loads for property and casualty insurers citing “persistent Helene loss creep.”