Bank of America Boosts Brown & Brown (NYSE:BRO) Price Target to $117.00

Brown & Brown (NYSE:BRO) had its target price increased by research analysts at Bank of America from $116.00 to $117.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price target suggests a potential upside of 10.86% from the stock’s current price.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Morgan Stanley began coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price for the company. Keefe, Bruyette & Woods reduced their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Truist Financial raised their price objective on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and a consensus price target of $112.08.

Brown & Brown Trading Down 2.1 %

Shares of BRO traded down $2.31 during mid-day trading on Tuesday, hitting $105.54. 751,216 shares of the company’s stock traded hands, compared to its average volume of 1,588,415. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $30.18 billion, a P/E ratio of 28.76, a PEG ratio of 2.12 and a beta of 0.85. The business’s 50-day moving average price is $105.72 and its 200-day moving average price is $104.00. Brown & Brown has a 1 year low of $75.79 and a 1 year high of $114.15.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, sell-side analysts forecast that Brown & Brown will post 3.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Brown & Brown

Institutional investors have recently made changes to their positions in the company. Global X Japan Co. Ltd. lifted its position in Brown & Brown by 14.3% in the 4th quarter. Global X Japan Co. Ltd. now owns 4,941 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 617 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Brown & Brown by 2.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,720 shares of the financial services provider’s stock valued at $2,624,000 after purchasing an additional 666 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Brown & Brown by 1.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 577,705 shares of the financial services provider’s stock valued at $58,937,000 after purchasing an additional 5,790 shares in the last quarter. Geneva Partners LLC boosted its position in shares of Brown & Brown by 22.8% during the fourth quarter. Geneva Partners LLC now owns 6,035 shares of the financial services provider’s stock valued at $616,000 after buying an additional 1,120 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in Brown & Brown by 3.4% in the 4th 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.