Brown & Brown (NYSE:BRO) Price Target Cut to $106.00 by Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets has reduced its price target for Brown & Brown from $122.00 to $106.00, indicating a potential upside of 14.31% from the company's previous close.
• Brown & Brown's stock recently experienced a modest increase of 0.9%, trading at $92.73 with a market capitalization of $26.58 billion.
• The company has received mixed ratings from analysts, with one sell rating, six hold ratings, and seven buy ratings, leading to an average rating of "Hold" and a consensus price target of $115.67.

Brown & Brown (NYSE:BRO - Get Free Report) had its price target decreased by BMO Capital Markets from $122.00 to $106.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. BMO Capital Markets' price target indicates a potential upside of 14.94% from the stock's previous close.

A number of other equities research analysts have also weighed in on BRO. Edward Jones assumed coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating on the stock. UBS Group boosted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. Barclays reduced their target price on shares of Brown & Brown from $111.00 to $108.00 and set an "equal weight" rating on the stock in a report on Tuesday. Truist Financial set a $120.00 price target on shares of Brown & Brown in a research report on Wednesday. Finally, Bank of America upgraded shares of Brown & Brown from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $126.00 to $130.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $114.25.

Brown & Brown Trading Up 0.9%

BRO traded up $0.85 during trading on Wednesday, reaching $92.22. 3,540,428 shares of the company's stock were exchanged, compared to its average volume of 3,460,361. Brown & Brown has a one year low of $90.55 and a one year high of $125.68. The company has a current ratio of 6.72, a quick ratio of 2.52 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $30.42 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82. The firm has a fifty day moving average price of $106.64 and a two-hundred day moving average price of $111.19.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, July 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.04. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm posted $0.93 EPS. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts forecast that Brown & Brown will post 4.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BRO. Bares Capital Management Inc. bought a new stake in Brown & Brown in the first quarter valued at $26,000. Optimum Investment Advisors bought a new stake in Brown & Brown in the first quarter valued at $31,000. SouthState Corp boosted its holdings in Brown & Brown by 188.6% in the first quarter. SouthState Corp now owns 254 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 166 shares in the last quarter. ST Germain D J Co. Inc. boosted its holdings in Brown & Brown by 298.5% in the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Finally, Johnson Financial Group Inc. boosted its holdings in Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 235 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other 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.