Truist Financial Boosts Brown & Brown (NYSE:BRO) Price Target to $112.00

Brown & Brown (NYSE:BRO) had its price target lifted by equities researchers at Truist Financial from $104.00 to $112.00 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 14.95% from the stock’s previous close.

Other analysts have also issued research reports about the stock. UBS Group increased their price target on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $91.00 to $101.00 in a research note on Wednesday, May 22nd. Citigroup boosted their target price on Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $96.40.

Brown & Brown Stock Down 0.1 %

Brown & Brown stock opened at $97.43 on Wednesday. Brown & Brown has a twelve month low of $66.73 and a twelve month high of $99.08. The stock has a market cap of $27.79 billion, a P/E ratio of 29.98, a P/E/G ratio of 2.36 and a beta of 0.82. The company’s 50-day moving average price is $90.93 and its two-hundred day moving average price is $85.17. The company has a quick ratio of 1.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, analysts expect that Brown & Brown will post 3.66 EPS for the current year.

Insider Buying and Selling at Brown & Brown

In other news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction on Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the transaction, the executive vice president now owns 23,597 shares in the company, valued at $2,121,842.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 17.02% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BRO. Norges Bank acquired a new stake in shares of Brown & Brown in the fourth quarter valued at about $217,663,000. Congress Asset Management Co. MA acquired a new stake in Brown & Brown during the 4th quarter valued at approximately $82,445,000. The Manufacturers Life Insurance Company raised its holdings in Brown & Brown by 76.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,000,227 shares of the financial services provider’s stock worth $142,236,000 after purchasing an additional 865,082 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of Brown & Brown in the 1st quarter worth approximately $49,598,000. Finally, Allianz Asset Management GmbH boosted its stake in shares of Brown & Brown by 339.1% in the 4th quarter. Allianz Asset Management GmbH now owns 648,550 shares of the financial services provider’s stock valued at $46,118,000 after purchasing an additional 500,847 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Company Profile

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.