Brown & Brown (NYSE:BRO) Price Target Raised to $82.00

Brown & Brown (NYSE:BRO) had its target price hoisted by investment analysts at Keefe, Bruyette & Woods from $80.00 to $82.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 1.80% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of Brown & Brown from a “buy” rating to a “hold” rating and dropped their price target for the stock from $85.00 to $78.00 in a research report on Tuesday, January 9th. The Goldman Sachs Group upgraded shares of Brown & Brown from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $84.00 to $83.00 in a research report on Monday, January 8th. Citigroup upped their price target on shares of Brown & Brown from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Truist Financial upped their target price on shares of Brown & Brown from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Raymond James upped their target price on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $87.30.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $83.50 on Friday. The stock’s fifty day moving average is $84.18 and its 200 day moving average is $77.60. Brown & Brown has a one year low of $61.71 and a one year high of $87.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market cap of $23.82 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.26 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. Sell-side analysts anticipate that Brown & Brown will post 3.62 earnings per share for the current year.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the transaction, the chairman now owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Brown & Brown

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in shares of Brown & Brown by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock valued at $2,243,000 after acquiring an additional 125 shares during the period. Legacy Capital Wealth Partners LLC raised its stake in shares of Brown & Brown by 2.6% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 158 shares during the period. Tributary Capital Management LLC raised its stake in shares of Brown & Brown by 1.1% in the fourth quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider’s stock valued at $1,186,000 after acquiring an additional 174 shares during the period. First Horizon Advisors Inc. increased its stake in Brown & Brown by 22.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,008 shares of the financial services provider’s stock worth $72,000 after buying an additional 187 shares during the period. Finally, Summit Financial LLC increased its stake in Brown & Brown by 6.0% in the 3rd quarter. Summit Financial LLC now owns 3,395 shares of the financial services provider’s stock worth $237,000 after buying an additional 191 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.