Brown & Brown (NYSE:BRO) Given New $94.00 Price Target at Citigroup

Brown & Brown (NYSE:BRO) had its price objective hoisted by Citigroup from $89.00 to $94.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Truist Financial lifted their price objective on shares of Brown & Brown from $85.00 to $92.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods lifted their price objective on shares of Brown & Brown from $75.00 to $80.00 and gave the company an underperform rating in a research report on Wednesday, April 10th. Raymond James lifted their price objective on shares of Brown & Brown from $90.00 to $95.00 and gave the company an outperform rating in a research report on Tuesday, March 26th. The Goldman Sachs Group upgraded shares of Brown & Brown from a neutral rating to a buy rating and cut their price objective for the company from $84.00 to $83.00 in a research report on Monday, January 8th. Finally, UBS Group lifted their price objective on shares of Brown & Brown from $75.00 to $81.00 and gave the company a neutral rating in a research report on Monday, January 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $86.80.

Brown & Brown Trading Down 0.1 %

NYSE BRO opened at $80.92 on Tuesday. Brown & Brown has a one year low of $58.71 and a one year high of $87.99. The company has a 50-day simple moving average of $84.15 and a 200-day simple moving average of $76.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $23.09 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 2.54 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, beating 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 business had revenue of $1.03 billion during the quarter. During the same period last year, the firm posted $0.50 earnings per share. On average, equities analysts forecast that Brown & Brown will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the business’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 sale, the chairman now directly owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.43% of the stock is owned by insiders.

Institutional Trading of Brown & Brown

A number of hedge funds and other institutional investors have recently made changes to their positions in BRO. Morgan Stanley raised its holdings in shares of Brown & Brown by 187.2% in the 4th quarter. Morgan Stanley now owns 9,491,448 shares of the financial services provider’s stock worth $540,728,000 after purchasing an additional 6,186,323 shares in the last quarter. Norges Bank bought a new stake in shares of Brown & Brown in the 4th quarter worth approximately $217,663,000. Goldman Sachs Group Inc. increased its position in shares of Brown & Brown by 658.3% in the second quarter. Goldman Sachs Group Inc. now owns 2,975,944 shares of the financial services provider’s stock worth $173,617,000 after acquiring an additional 2,583,481 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Brown & Brown by 401.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,468,253 shares of the financial services provider’s stock worth $83,646,000 after acquiring an additional 1,175,211 shares in the last quarter. Finally, Congress Asset Management Co. MA purchased a new position in shares of Brown & Brown in the fourth quarter worth approximately $82,445,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Company Profile

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.