Brown & Brown (NYSE:BRO) Price Target Raised to $118.00

Brown & Brown (NYSE:BRO) had its price target boosted by stock analysts at Royal Bank of Canada from $113.00 to $118.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 12.09% from the company’s current price.

Several other analysts have also issued reports on BRO. Keefe, Bruyette & Woods upped their price target on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research report on Friday, July 26th. Barclays started coverage on Brown & Brown in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price target on the stock. Truist Financial lifted their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group boosted their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Raymond James raised their price target on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $106.50.

Brown & Brown Stock Up 0.2 %

Shares of Brown & Brown stock traded up $0.23 during trading hours on Wednesday, reaching $105.27. 260,689 shares of the company’s stock were exchanged, compared to its average volume of 1,321,930. The stock has a market cap of $30.03 billion, a P/E ratio of 30.23, a P/E/G ratio of 2.45 and a beta of 0.83. The company has a 50 day moving average of $104.09 and a two-hundred day moving average of $95.60. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. Brown & Brown has a fifty-two week low of $68.42 and a fifty-two week high of $107.67.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts forecast that Brown & Brown will post 3.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The disclosure for this sale can be found here. 16.43% of the stock is owned by insiders.

Institutional Trading of Brown & Brown

A number of institutional investors and hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. lifted its stake in Brown & Brown by 15.8% during the third quarter. QRG Capital Management Inc. now owns 19,543 shares of the financial services provider’s stock worth $2,025,000 after purchasing an additional 2,664 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Brown & Brown by 3.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 96,091 shares of the financial services provider’s stock worth $9,955,000 after buying an additional 3,600 shares in the last quarter. National Pension Service lifted its position in shares of Brown & Brown by 2.5% during the 3rd quarter. National Pension Service now owns 366,519 shares of the financial services provider’s stock worth $37,971,000 after buying an additional 8,776 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Brown & Brown by 5.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 689,556 shares of the financial services provider’s stock valued at $71,438,000 after buying an additional 33,440 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in Brown & Brown by 18.5% in the third quarter. Farther Finance Advisors LLC now owns 2,914 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 455 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

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.