Brown & Brown (NYSE:BRO) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Brown & Brown (NYSE:BRO - Get Free Report) had its target price raised 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 firm currently has an "underperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would suggest a potential downside of 2.56% from the company's previous close.

Several other analysts also recently issued reports on the stock. Barclays reduced their price target on shares of Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $127.00 price objective (up from $125.00) on shares of Brown & Brown in a report on Thursday, June 12th. The Goldman Sachs Group downgraded shares of Brown & Brown from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $126.00 to $119.00 in a report on Tuesday, May 13th. BMO Capital Markets reaffirmed an "outperform" rating and set a $122.00 price objective (up from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. Finally, UBS Group lifted their price objective 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $118.23.

Brown & Brown Trading Down 1.0%

Shares of BRO stock traded down $1.08 during trading hours on Wednesday, hitting $106.73. 2,415,776 shares of the company were exchanged, compared to its average volume of 1,890,293. The firm has a market cap of $30.60 billion, a P/E ratio of 29.73, a P/E/G ratio of 2.36 and a beta of 0.82. Brown & Brown has a fifty-two week low of $92.11 and a fifty-two 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. The company has a 50 day simple moving average of $109.61 and a two-hundred day simple moving average of $111.33.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the business posted $1.14 EPS. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts anticipate that Brown & Brown will post 4.18 EPS for the current year.

Institutional Investors Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bares Capital Management Inc. purchased a new position in Brown & Brown during the 1st quarter valued at about $26,000. Johnson Financial Group Inc. grew its holdings in Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after buying an additional 235 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after buying an additional 256 shares in the last quarter. Optimum Investment Advisors purchased a new position in Brown & Brown during the 1st quarter valued at about $31,000. Finally, SouthState Corp grew its holdings in Brown & Brown by 188.6% during the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider's stock valued at $32,000 after buying an additional 166 shares in the last quarter. 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.