Brown & Brown (NYSE:BRO) Given New $80.00 Price Target at Barclays

by · The Markets Daily

Brown & Brown (NYSE:BRO – Get Free Report) had its price objective reduced by stock analysts at Barclays from $82.00 to $80.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential upside of 16.44% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group reduced their target price on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Mizuho raised Brown & Brown from a “neutral” rating to an “outperform” rating and upped their price target for the company from $84.00 to $85.00 in a research report on Friday, February 27th. Truist Financial lowered their target price on Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. Wolfe Research started coverage on shares of Brown & Brown in a research report on Thursday, November 20th. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley reduced their price target on Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, January 29th. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.29.

Read Our Latest Report on BRO

Brown & Brown Price Performance

BRO stock traded up $0.12 during trading on Wednesday, hitting $68.70. The stock had a trading volume of 1,392,979 shares, compared to its average volume of 3,394,414. Brown & Brown has a 1-year low of $65.68 and a 1-year high of $125.68. The company’s 50 day moving average price is $74.12 and its two-hundred day moving average price is $82.16. The stock has a market cap of $23.39 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 1.91 and a beta of 0.79. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.66 and a current ratio of 1.66.

Brown & Brown (NYSE:BRO – Get Free Report) last posted its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. On average, sell-side analysts forecast that Brown & Brown will post 4.18 EPS for the current fiscal year.

Institutional Trading of Brown & Brown

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of Brown & Brown by 38.3% in the 1st quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock valued at $4,132,000 after buying an additional 9,264 shares during the period. Focus Partners Wealth lifted its holdings in Brown & Brown by 5.2% during the first quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock worth $1,387,000 after acquiring an additional 547 shares in the last quarter. Profund Advisors LLC grew its stake in Brown & Brown by 11.2% in the second quarter. Profund Advisors LLC now owns 3,767 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 378 shares during the period. Allworth Financial LP increased its holdings in shares of Brown & Brown by 472.8% in the second quarter. Allworth Financial LP now owns 5,499 shares of the financial services provider’s stock worth $610,000 after acquiring an additional 4,539 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new stake in shares of Brown & Brown during the second quarter worth about $577,000. 71.01% of the stock is owned by institutional investors.

About Brown & Brown

(Get Free Report)

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.

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