Truist Financial Issues Pessimistic Forecast for Brown & Brown (NYSE:BRO) Stock Price

Brown & Brown (NYSE:BRO) had its price target reduced by analysts at Truist Financial from $138.00 to $130.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective would indicate a potential upside of 19.22% from the stock’s previous close.

BRO has been the topic of a number of other research reports. Bank of America boosted their target price on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Jefferies Financial Group lifted their target price on Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a research report on Friday, April 11th. UBS Group increased their price target on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 9th. Barclays raised their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an “underperform” rating in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $116.83.

Brown & Brown Price Performance

NYSE:BRO opened at $109.05 on Wednesday. Brown & Brown has a 52 week low of $81.79 and a 52 week high of $125.68. The stock’s fifty day moving average is $117.91 and its two-hundred day moving average is $110.62. The company has a market capitalization of $31.25 billion, a P/E ratio of 31.52, a P/E/G ratio of 2.93 and a beta of 0.75. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company earned $1.14 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts expect that Brown & Brown will post 4.18 EPS for the current year.

Institutional Trading of Brown & Brown

A number of large investors have recently made changes to their positions in the company. Phillips Wealth Planners LLC grew its holdings in shares of Brown & Brown by 3.4% during the first quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider’s stock worth $316,000 after buying an additional 88 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in Brown & Brown by 2.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 97 shares in the last quarter. Journey Strategic Wealth LLC raised its stake in shares of Brown & Brown by 2.3% during the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock worth $458,000 after buying an additional 99 shares during the last quarter. CWA Asset Management Group LLC raised its position in Brown & Brown by 3.7% during the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 103 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in Brown & Brown by 3.4% in the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after buying an additional 103 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

About Brown & Brown

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.