Barclays Cuts Brown & Brown (NYSE:BRO) Price Target to $111.00

Brown & Brown (NYSE:BRO - Get Free Report) had its price objective decreased by research analysts at Barclays from $121.00 to $111.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Barclays's price objective indicates a potential upside of 3.34% from the company's previous close.

BRO has been the subject of a number of other reports. Wells Fargo & Company reiterated an "overweight" rating and set a $127.00 price target (up from $125.00) on shares of Brown & Brown in a report on Thursday, June 12th. Morgan Stanley reissued an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Jefferies Financial Group boosted their price target on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. UBS Group boosted their price target on shares of Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. Finally, Truist Financial reduced their target price on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, Brown & Brown presently has a consensus rating of "Hold" and a consensus price target of $118.08.

Brown & Brown Stock Down 1.2%

Shares of BRO stock traded down $1.29 during mid-day trading on Monday, hitting $107.42. The company's stock had a trading volume of 1,572,226 shares, compared to its average volume of 1,848,967. The stock has a market cap of $30.79 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 2.38 and a beta of 0.82. The business has a 50-day moving average price of $109.92 and a 200 day moving average price of $111.29. Brown & Brown has a 52-week low of $89.92 and a 52-week high of $125.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the firm earned $1.14 EPS. The company's revenue was up 11.6% compared to the same quarter last year. Research analysts predict that Brown & Brown will post 4.18 EPS for the current fiscal year.

Institutional Trading of Brown & Brown

Institutional investors have recently modified their holdings of the company. Parnassus Investments LLC purchased a new position in Brown & Brown in the first quarter valued at $899,139,000. Norges Bank acquired a new stake in shares of Brown & Brown in the fourth quarter valued at $313,412,000. First Trust Advisors LP raised its stake in shares of Brown & Brown by 626.6% in the fourth quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock valued at $239,751,000 after acquiring an additional 2,026,589 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at $198,031,000. Finally, Vanguard Group Inc. boosted its position in shares of Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after purchasing an additional 1,335,964 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It 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.

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