Mizuho Boosts Brown & Brown (NYSE:BRO) Price Target to $81.00

Key Points

• Mizuho raised its price target on Brown & Brown to $81 from $74 and maintained an outperform rating, implying about 18% upside from the previous close.
• The latest move comes amid a mixed analyst backdrop: the stock’s average rating is Hold, with an average target price of $78.62 after several firms recently adjusted their views.
• Brown & Brown shares were trading lower on the day, even as the company recently reported better-than-expected quarterly EPS and revenue, with revenue up 35.4% year over year.

Brown & Brown (NYSE:BRO - Get Free Report) had its price objective upped by equities researchers at Mizuho from $74.00 to $81.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Mizuho's price target indicates a potential upside of 18.36% from the stock's previous close.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Brown & Brown from $72.00 to $74.00 and gave the company a "market perform" rating in a report on Wednesday. Truist Financial cut their target price on shares of Brown & Brown from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Citizens Jmp started coverage on shares of Brown & Brown in a research note on Thursday, May 21st. They set a "market outperform" rating and a $70.00 target price for the company. Barclays increased their price target on Brown & Brown from $72.00 to $76.00 and gave the company an "equal weight" rating in a report on Tuesday. Finally, Bank of America dropped their price target on Brown & Brown from $90.00 to $88.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of "Hold" and an average target price of $78.62.

Brown & Brown Trading Down 1.2%

Shares of NYSE:BRO opened at $68.44 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. Brown & Brown has a 1 year low of $53.81 and a 1 year high of $108.36. The company has a market cap of $23.20 billion, a P/E ratio of 22.01, a PEG ratio of 3.19 and a beta of 0.60. The stock's fifty day moving average price is $59.83 and its 200-day moving average price is $67.69.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.Brown & Brown's revenue for the quarter was up 35.4% on a year-over-year basis. During the same period last year, the company earned $1.29 EPS. Sell-side analysts expect that Brown & Brown will post 4.51 earnings per share for the current year.

Insider Transactions at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. bought 2,000 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was bought at an average cost of $57.10 per share, for a total transaction of $114,200.00. Following the completion of the transaction, the director owned 47,621 shares of the company's stock, valued at $2,719,159.10. This represents a 4.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.13% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Union Bancaire Privee UBP SA bought a new position in Brown & Brown in the 1st quarter worth $25,000. Basepoint Wealth LLC bought a new stake in Brown & Brown during the fourth quarter valued at about $27,000. Darwin Wealth Management LLC purchased a new stake in Brown & Brown in the second quarter worth about $30,000. DV Equities LLC purchased a new stake in Brown & Brown in the fourth quarter worth about $33,000. Finally, Board of the Pension Protection Fund bought a new position in shares of Brown & Brown in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

About Brown & Brown

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.