Mizuho Has Lowered Expectations for Brown & Brown (NYSE:BRO) Stock Price

Key Points

• Mizuho lowered its target on Brown & Brown from $85 to $84 but kept an "outperform" rating, implying roughly a 25.5% upside from the stock's then-price.
• Consensus among analysts is a Hold with a consensus target of $84.40; coverage shows 4 Buy ratings and 15 Hold ratings, and several firms have recently trimmed targets.
• Recent results: the company beat EPS at $0.93 vs. $0.91 but slightly missed revenue at $1.61B vs. $1.65B; the stock traded near $66.93 with a PE of 20.9 and a market cap around $22.8B.

Brown & Brown (NYSE:BRO - Get Free Report) had its target price reduced by investment analysts at Mizuho from $85.00 to $84.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Mizuho's target price points to a potential upside of 25.51% from the company's current price.

Several other equities analysts also recently weighed in on the company. Jefferies Financial Group cut their target price on Brown & Brown from $89.00 to $84.00 and set a "hold" rating on the stock in a research report on Wednesday, January 28th. Royal Bank Of Canada assumed coverage on Brown & Brown in a research report on Tuesday, March 17th. They set a "sector perform" rating and a $76.00 target price on the stock. BMO Capital Markets cut their target price on Brown & Brown from $88.00 to $81.00 and set a "market perform" rating on the stock in a research report on Thursday, January 29th. JPMorgan Chase & Co. cut their target price on Brown & Brown from $91.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted their target price on Brown & Brown from $73.00 to $74.00 and gave the company a "market perform" rating in a research report on Tuesday, April 7th. Four investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $84.40.

Brown & Brown Price Performance

NYSE:BRO traded up $1.85 during trading hours on Monday, reaching $66.93. The stock had a trading volume of 999,651 shares, compared to its average volume of 3,385,431. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.66 and a current ratio of 1.66. Brown & Brown has a 52 week low of $63.29 and a 52 week high of $121.70. The company has a 50 day moving average price of $68.68 and a two-hundred day moving average price of $77.68. The stock has a market capitalization of $22.78 billion, a PE ratio of 20.92, a PEG ratio of 1.64 and a beta of 0.83.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The company's revenue was up 35.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Brown & Brown will post 4.18 earnings per share for the current fiscal year.

Institutional Trading of Brown & Brown

Institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Planning Group LLC grew its position in shares of Brown & Brown by 423.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider's stock worth $26,000 after buying an additional 220 shares in the last quarter. Basepoint Wealth LLC bought a new position in shares of Brown & Brown during the 4th quarter worth $27,000. Darwin Wealth Management LLC bought a new position in shares of Brown & Brown during the 2nd quarter worth $30,000. DV Equities LLC bought a new position in shares of Brown & Brown during the 4th quarter worth $33,000. Finally, Board of the Pension Protection Fund bought a new position in shares of Brown & Brown during the 4th quarter worth $40,000. Institutional investors own 71.01% of the company's stock.

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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