Citigroup Increases Brown & Brown (NYSE:BRO) Price Target to $100.00

Brown & Brown (NYSE:BROGet Free Report) had its price target raised by equities researchers at Citigroup from $94.00 to $100.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective points to a potential upside of 11.72% from the stock’s previous close.

Several other brokerages have also weighed in on BRO. Raymond James increased their target price on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Truist Financial raised their price target on Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada raised their price target on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Keefe, Bruyette & Woods raised their price target on Brown & Brown from $80.00 to $82.00 and gave the company an “underperform” rating in a report on Friday, May 3rd. Finally, StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.40.

Get Our Latest Stock Analysis on Brown & Brown

Brown & Brown Stock Performance

Shares of BRO opened at $89.51 on Friday. Brown & Brown has a 12-month low of $61.71 and a 12-month high of $91.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97. The business’s fifty day moving average price is $85.38 and its 200 day moving average price is $80.08. The stock has a market capitalization of $25.53 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 2.31 and a beta of 0.79.

Brown & Brown (NYSE:BROGet Free Report) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company earned $0.84 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts forecast that Brown & Brown will post 3.61 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Hyatt J. Brown sold 144,323 shares of Brown & Brown stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 17.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently modified their holdings of BRO. Fortitude Family Office LLC acquired a new position in shares of Brown & Brown in the 4th quarter valued at $31,000. Headlands Technologies LLC acquired a new stake in Brown & Brown during the 1st quarter worth about $32,000. Park Place Capital Corp boosted its position in Brown & Brown by 166.5% during the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 318 shares during the period. Alaska Permanent Fund Corp acquired a new stake in Brown & Brown during the 1st quarter worth about $36,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in Brown & Brown by 174.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 348 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Brown & Brown (NYSE:BRO)

Receive News & Ratings for Brown & Brown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown and related companies with MarketBeat.com's FREE daily email newsletter.