Barclays Lowers Brown & Brown (NYSE:BRO) Price Target to $83.00

Brown & Brown (NYSE:BRO) had its price target dropped by investment analysts at Barclays from $84.00 to $83.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 2.94% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Wolfe Research began coverage on Brown & Brown in a research note on Thursday, November 20th. They issued a “peer perform” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Brown & Brown in a research report on Monday, December 29th. Wells Fargo & Company dropped their target price on Brown & Brown from $98.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 29th. Truist Financial cut their target price on Brown & Brown from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Finally, Mizuho set a $89.00 price target on shares of Brown & Brown and gave the company a “neutral” rating in a research report on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $99.80.

Brown & Brown Stock Up 0.0%

BRO stock opened at $80.63 on Thursday. The company’s 50 day moving average is $79.80 and its 200 day moving average is $90.64. The stock has a market cap of $27.53 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 1.78 and a beta of 0.81. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.62. Brown & Brown has a 1-year low of $76.17 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The business’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. Sell-side analysts predict that Brown & Brown will post 4.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its position in Brown & Brown by 423.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after buying an additional 220 shares during the period. ST Germain D J Co. Inc. boosted its holdings in shares of Brown & Brown by 298.5% during the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 200 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Brown & Brown during the second quarter worth about $30,000. Motco bought a new stake in shares of Brown & Brown in the second quarter worth about $32,000. Finally, Bruce G. Allen Investments LLC increased its holdings in Brown & Brown by 1,129.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 305 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

About Brown & Brown

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.