Brown & Brown (NYSE:BRO - Get Free Report) had its price objective upped by equities researchers at Keefe, Bruyette & Woods from $102.00 to $104.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "underperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price suggests a potential downside of 3.69% from the company's previous close.
Other equities research analysts have also issued research reports about the stock. Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. Barclays cut their price objective on Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating on the stock in a research report on Monday. The Goldman Sachs Group lowered Brown & Brown from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $126.00 to $119.00 in a research report on Tuesday, May 13th. Truist Financial dropped their price target on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Edward Jones initiated coverage on Brown & Brown in a research note on Wednesday, April 16th. They issued a "buy" rating on the stock. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $118.23.
Check Out Our Latest Stock Analysis on Brown & Brown
Brown & Brown Trading Up 0.7%
BRO traded up $0.74 during midday trading on Wednesday, reaching $107.99. 2,739,328 shares of the company's stock traded hands, compared to its average volume of 1,875,263. Brown & Brown has a 52 week low of $90.04 and a 52 week high of $125.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.52 and a quick ratio of 2.52. The firm has a fifty day moving average of $109.71 and a two-hundred day moving average of $111.27. The stock has a market capitalization of $30.96 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 2.35 and a beta of 0.82.
Brown & Brown (NYSE:BRO - Get Free Report) last announced its earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. Brown & Brown's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 EPS. On average, equities analysts anticipate that Brown & Brown will post 4.18 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of BRO. Parnassus Investments LLC purchased a new stake in Brown & Brown during the 1st quarter valued at $899,139,000. Norges Bank bought a new position in shares of Brown & Brown during the fourth quarter valued at $313,412,000. First Trust Advisors LP increased its holdings in Brown & Brown by 626.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock worth $239,751,000 after buying an additional 2,026,589 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in Brown & Brown in the 4th quarter worth about $198,031,000. Finally, Vanguard Group Inc. raised its position in 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 worth $3,054,493,000 after buying an additional 1,335,964 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.
About Brown & Brown
(
Get Free Report)
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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