Brown & Brown (NYSE:BRO) Price Target Raised to $104.00

Brown & Brown (NYSE:BRO - Get Free Report) had its price objective boosted 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' price target would indicate a potential downside of 2.56% from the stock's previous close.

A number of other research analysts have also weighed in on BRO. Truist Financial decreased their target price on Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. 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 report on Tuesday, May 13th. UBS Group boosted their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $122.00 price objective (up from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Brown & Brown presently has a consensus rating of "Hold" and an average price target of $118.23.

Brown & Brown Stock Performance

Shares of BRO stock traded down $1.08 during trading on Wednesday, reaching $106.73. 2,415,776 shares of the company's stock were exchanged, compared to its average volume of 1,890,293. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $30.60 billion, a PE ratio of 29.73, a PEG ratio of 2.36 and a beta of 0.82. Brown & Brown has a twelve month low of $92.11 and a twelve month high of $125.68. The firm's fifty day moving average price is $109.61 and its 200-day moving average price is $111.33.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share 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 analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The firm's revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 earnings per share. As a group, sell-side analysts anticipate that Brown & Brown will post 4.18 EPS for the current year.

Institutional Trading of Brown & Brown

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its position in shares of Brown & Brown by 51.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 952,423 shares of the financial services provider's stock worth $105,595,000 after buying an additional 323,733 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of Brown & Brown by 17.3% during the 2nd quarter. IFM Investors Pty Ltd now owns 52,258 shares of the financial services provider's stock worth $5,794,000 after buying an additional 7,702 shares during the last quarter. Triangle Securities Wealth Management bought a new stake in shares of Brown & Brown during the 2nd quarter worth $317,000. CWC Advisors LLC. bought a new stake in shares of Brown & Brown during the 2nd quarter worth $393,000. Finally, Mogy Joel R Investment Counsel Inc. lifted its position in shares of Brown & Brown by 13.1% during the 2nd quarter. Mogy Joel R Investment Counsel Inc. now owns 50,416 shares of the financial services provider's stock worth $5,590,000 after buying an additional 5,825 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

About Brown & Brown

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.