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

Brown & Brown (NYSE:BRO) had its price objective dropped by stock analysts at Truist Financial from $120.00 to $114.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price indicates a potential upside of 41.69% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company cut their price target on Brown & Brown from $98.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Barclays cut their target price on Brown & Brown from $108.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $120.00 target price (down from $125.00) on shares of Brown & Brown in a research report on Monday, August 4th. Bank of America raised shares of Brown & Brown from a “neutral” rating to a “buy” rating and upped their price target for the company from $126.00 to $130.00 in a report on Wednesday, July 30th. Finally, UBS Group cut their price target on shares of Brown & Brown from $120.00 to $106.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Brown & Brown has an average rating of “Hold” and an average target price of $108.38.

Brown & Brown Stock Performance

Brown & Brown stock opened at $80.46 on Wednesday. The stock’s 50 day moving average price is $92.50 and its 200 day moving average price is $101.88. The firm has a market capitalization of $27.47 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.70 and a beta of 0.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.72 and a current ratio of 2.10. Brown & Brown has a one year low of $79.68 and a one year high of $125.68.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year. As a group, sell-side analysts expect that Brown & Brown will post 4.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Brown & Brown news, Director Paul J. Krump bought 2,678 shares of the company’s stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $93.31 per share, with a total value of $249,884.18. Following the completion of the acquisition, the director owned 5,353 shares of the company’s stock, valued at approximately $499,488.43. This trade represents a 100.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bronislaw Edmund Masojada acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average price of $91.44 per share, for a total transaction of $91,440.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at $457,200. This trade represents a 25.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 17.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Brown & Brown

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bares Capital Management Inc. acquired a new stake in Brown & Brown in the first quarter worth $26,000. ST Germain D J Co. Inc. increased its position in Brown & Brown by 298.5% in the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after buying an additional 200 shares during the period. Darwin Wealth Management LLC acquired a new stake in Brown & Brown in the second quarter worth $30,000. Optimum Investment Advisors acquired a new stake in shares of Brown & Brown in the 1st quarter worth about $31,000. Finally, SouthState Corp increased its holdings in shares of Brown & Brown by 188.6% in the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 166 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Company Profile

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.