Wells Fargo & Company Increases Brown & Brown (NYSE:BRO) Price Target to $84.00

Brown & Brown (NYSE:BRO) had its target price upped by equities researchers at Wells Fargo & Company from $81.00 to $84.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 2.56% from the company’s current price.

Other analysts also recently issued research reports about the stock. Truist Financial increased their price objective on shares of Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. The Goldman Sachs Group upgraded shares of Brown & Brown from a “neutral” rating to a “buy” rating and cut their price target for the stock from $84.00 to $83.00 in a report on Monday, January 8th. Bank of America downgraded shares of Brown & Brown from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $80.00 to $86.00 in a report on Wednesday, March 13th. Keefe, Bruyette & Woods raised their price target on shares of Brown & Brown from $75.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday. Finally, Raymond James raised their price target on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $85.70.

Brown & Brown Trading Down 0.9 %

BRO stock opened at $81.90 on Thursday. The company’s 50-day simple moving average is $84.03 and its 200-day simple moving average is $76.35. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.58. Brown & Brown has a 52-week low of $58.05 and a 52-week high of $87.99. The firm has a market cap of $23.37 billion, a P/E ratio of 26.76, a PEG ratio of 2.67 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. The firm had revenue of $1.03 billion during the quarter. During the same quarter last year, the company earned $0.50 EPS. As a group, equities analysts forecast that Brown & Brown will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the transaction, the chairman now owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 17.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Brown & Brown

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRO. Clear Street Markets LLC boosted its position in Brown & Brown by 93.7% in the 1st quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock valued at $26,000 after buying an additional 223 shares during the period. First Capital Advisors Group LLC. acquired a new stake in shares of Brown & Brown in the 2nd quarter valued at $26,000. Fortitude Family Office LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at $31,000. Park Place Capital Corp raised its holdings in shares of Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 318 shares in the last quarter. Finally, Alaska Permanent Fund Corp acquired a new stake in shares of Brown & Brown in the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.