Royal Bank of Canada Issues Positive Forecast for Brown & Brown (NYSE:BRO) Stock Price

Brown & Brown (NYSE:BRO) had its price objective increased by stock analysts at Royal Bank of Canada from $118.00 to $120.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 14.77% from the company’s previous close.

Several other equities analysts have also issued reports on BRO. Truist Financial raised their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley initiated coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Barclays raised their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Stock Down 0.4 %

BRO stock traded down $0.46 during trading on Wednesday, hitting $104.56. 479,330 shares of the company’s stock were exchanged, compared to its average volume of 1,633,328. The business has a 50-day moving average price of $105.63 and a two-hundred day moving average price of $104.08. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $29.90 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 2.12 and a beta of 0.85. Brown & Brown has a 52-week low of $75.79 and a 52-week high of $114.15.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. As a group, equities research analysts expect that Brown & Brown will post 3.74 EPS for the current year.

Institutional Trading of Brown & Brown

Institutional investors have recently added to or reduced their stakes in the stock. Studio Investment Management LLC raised its holdings in shares of Brown & Brown by 1.5% in the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock worth $675,000 after acquiring an additional 96 shares during the last quarter. Journey Strategic Wealth LLC raised its stake in Brown & Brown by 2.3% in the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 99 shares during the last quarter. Trust Point Inc. lifted its holdings in Brown & Brown by 4.3% in the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 103 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in shares of Brown & Brown by 3.7% during the 4th quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 103 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in shares of Brown & Brown by 3.4% during the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock worth $323,000 after buying an additional 103 shares in the last quarter. Hedge funds and other institutional investors 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.