Brown & Brown (NYSE:BRO) Price Target Raised to $76.00 at Barclays

Brown & Brown (NYSE:BRO - Get Free Report) had its price objective upped by Barclays from $72.00 to $76.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Barclays's price objective would suggest a potential upside of 11.08% from the company's previous close.

Several other research firms have also weighed in on BRO. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $74.00 to $72.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 29th. Citigroup initiated coverage on Brown & Brown in a research note on Thursday, May 21st. They issued a "market outperform" rating for the company. Royal Bank Of Canada reduced their price objective on shares of Brown & Brown from $76.00 to $72.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 29th. The Goldman Sachs Group boosted their price objective on shares of Brown & Brown from $62.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, July 1st. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Brown & Brown in a research note on Friday, June 26th. Five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $78.19.

Brown & Brown Price Performance

BRO opened at $68.42 on Tuesday. The company has a fifty day moving average price of $59.72 and a two-hundred day moving average price of $67.86. The firm has a market capitalization of $23.19 billion, a PE ratio of 22.00, a P/E/G ratio of 3.22 and a beta of 0.60. Brown & Brown has a 52 week low of $53.81 and a 52 week high of $108.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business posted $1.29 EPS. The firm's quarterly revenue was up 35.4% on a year-over-year basis. As a group, analysts anticipate that Brown & Brown will post 4.52 earnings per share for the current year.

Insider Transactions at Brown & Brown

In other news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were purchased at an average price of $57.10 per share, with a total value of $114,200.00. Following the purchase, the director directly owned 47,621 shares of the company's stock, valued at $2,719,159.10. This trade represents a 4.38% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 13.13% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Triad Investment Management acquired a new stake in Brown & Brown during the 4th quarter worth approximately $4,314,000. PFA Pension Forsikringsaktieselskab bought a new position in Brown & Brown during the 4th quarter worth $46,226,000. Vest Financial LLC increased its position in Brown & Brown by 3.7% during the 4th quarter. Vest Financial LLC now owns 552,994 shares of the financial services provider's stock worth $44,074,000 after buying an additional 19,503 shares during the period. Capital World Investors lifted its holdings in shares of Brown & Brown by 81.1% during the third quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider's stock worth $1,639,392,000 after buying an additional 7,827,992 shares in the last quarter. Finally, Barr E S & Co. grew its stake in shares of Brown & Brown by 19.0% in the fourth quarter. Barr E S & Co. now owns 362,669 shares of the financial services provider's stock valued at $28,905,000 after acquiring an additional 57,971 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Company Profile

Brown & Brown, Inc NYSE: BRO is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.

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