Brown & Brown (NYSE:BRO) Price Target Raised to $117.00

Brown & Brown (NYSE:BRO) had its price target hoisted by stock analysts at Bank of America from $116.00 to $117.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price target would suggest a potential upside of 10.86% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Truist Financial upped their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley assumed coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $112.08.

Brown & Brown Price Performance

BRO traded down $2.31 during trading on Tuesday, reaching $105.54. 751,216 shares of the company were exchanged, compared to its average volume of 1,588,415. Brown & Brown has a 12-month low of $75.79 and a 12-month high of $114.15. The company’s 50-day moving average is $105.72 and its two-hundred day moving average is $104.00. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The company has a market cap of $30.18 billion, a price-to-earnings ratio of 28.76, a P/E/G ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. Research analysts forecast that Brown & Brown will post 3.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new stake in Brown & Brown during the 3rd quarter valued at about $26,000. ST Germain D J Co. Inc. boosted its stake in shares of Brown & Brown by 298.5% during the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown in the third quarter worth approximately $29,000. Y.D. More Investments Ltd increased its stake in shares of Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after buying an additional 162 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Brown & Brown in the fourth quarter worth $31,000. 71.01% of the stock is 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.