BMO Capital Markets Lowers Brown & Brown (NYSE:BRO) Price Target to $106.00

Brown & Brown (NYSE:BRO) had its price target reduced by investment analysts at BMO Capital Markets from $122.00 to $106.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. BMO Capital Markets’ price target points to a potential upside of 16.01% from the company’s previous close.

BRO has been the subject of several other research reports. Barclays decreased their price objective on Brown & Brown from $111.00 to $108.00 and set an “equal weight” rating for the company in a research note on Tuesday. Truist Financial set a $120.00 price target on shares of Brown & Brown in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price target on shares of Brown & Brown from $102.00 to $104.00 and gave the stock an “underperform” rating in a report on Wednesday, July 9th. Bank of America upgraded shares of Brown & Brown from a “neutral” rating to a “buy” rating and raised their price objective for the company from $126.00 to $130.00 in a report on Wednesday. Finally, Jefferies Financial Group boosted their target price on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $114.25.

Brown & Brown Stock Performance

NYSE:BRO opened at $91.37 on Wednesday. Brown & Brown has a 52 week low of $91.00 and a 52 week high of $125.68. The company has a fifty day simple moving average of $107.39 and a two-hundred day simple moving average of $111.35. The company has a quick ratio of 2.52, a current ratio of 6.72 and a debt-to-equity ratio of 0.64. The company has a market cap of $30.14 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.04 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Brown & Brown had a return on equity of 15.10% and a net margin of 19.89%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the business posted $0.93 earnings per share. Brown & Brown’s revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts anticipate that Brown & Brown will post 4.18 earnings per share for the current fiscal year.

Institutional Trading of Brown & Brown

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in shares of Brown & Brown by 0.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 69,590 shares of the financial services provider’s stock valued at $7,715,000 after purchasing an additional 488 shares during the period. Resonant Capital Advisors LLC lifted its stake in Brown & Brown by 6.9% in the second quarter. Resonant Capital Advisors LLC now owns 10,036 shares of the financial services provider’s stock valued at $1,113,000 after buying an additional 646 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Brown & Brown by 16.7% in the second quarter. Wealthfront Advisers LLC now owns 15,389 shares of the financial services provider’s stock valued at $1,706,000 after acquiring an additional 2,200 shares during the period. AG2R LA Mondiale Gestion D Actifs grew its position in shares of Brown & Brown by 10.7% during the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 10,986 shares of the financial services provider’s stock worth $1,218,000 after acquiring an additional 1,066 shares during the last quarter. Finally, Curio Wealth LLC increased its holdings in shares of Brown & Brown by 119,900.0% in the 2nd quarter. Curio Wealth LLC now owns 1,200 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,199 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.