Wells Fargo & Company Lowers Brown & Brown (NYSE:BRO) Price Target to $78.00

Brown & Brown (NYSE:BRO) had its price objective decreased by research analysts at Wells Fargo & Company from $82.00 to $78.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 13.92% from the stock’s current price.

A number of other research firms have also recently commented on BRO. Weiss Ratings restated a “hold (c)” rating on shares of Brown & Brown in a research note on Monday, December 29th. Keefe, Bruyette & Woods upgraded shares of Brown & Brown from an “underperform” rating to a “market perform” rating and lowered their target price for the company from $80.00 to $73.00 in a research note on Thursday, January 29th. Mizuho cut their price target on Brown & Brown from $90.00 to $84.00 and set a “neutral” rating for the company in a research note on Wednesday, January 28th. Barclays lowered their price objective on Brown & Brown from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 27th. Finally, JPMorgan Chase & Co. began coverage on Brown & Brown in a report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price target on the stock. Three analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and an average price target of $90.36.

Brown & Brown Trading Down 1.5%

Brown & Brown stock opened at $68.47 on Friday. The business has a 50-day simple moving average of $77.38 and a two-hundred day simple moving average of $85.05. Brown & Brown has a 52-week low of $65.68 and a 52-week high of $125.68. The company has a quick ratio of 2.10, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. The company has a market cap of $23.38 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.07 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.65 billion. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.Brown & Brown’s revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS. Analysts predict that Brown & Brown will post 4.18 EPS for the current year.

Institutional Investors Weigh In On Brown & Brown

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in Brown & Brown by 38.3% in the first quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock worth $4,132,000 after acquiring an additional 9,264 shares during the period. Focus Partners Wealth lifted its position in shares of Brown & Brown by 5.2% in the 1st quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock worth $1,387,000 after purchasing an additional 547 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Brown & Brown by 58.5% during the second quarter. Sequoia Financial Advisors LLC now owns 9,832 shares of the financial services provider’s stock valued at $1,090,000 after purchasing an additional 3,630 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Brown & Brown by 63.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,350 shares of the financial services provider’s stock valued at $1,591,000 after purchasing an additional 5,584 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new position in Brown & Brown during the second quarter valued at approximately $248,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.