Wells Fargo & Company Lowers Brown & Brown (NYSE:BRO) Price Target to $84.00

Brown & Brown (NYSE:BRO) had its target price lowered by Wells Fargo & Company from $92.00 to $84.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 5.82% from the stock’s previous close.

BRO has been the subject of a number of other reports. UBS Group decreased their target price on Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Citigroup cut Brown & Brown from a “buy” rating to a “neutral” rating in a research note on Monday, November 3rd. Wall Street Zen raised Brown & Brown from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. JPMorgan Chase & Co. began coverage on shares of Brown & Brown in a report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Brown & Brown from $79.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, January 6th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $99.27.

Brown & Brown Stock Performance

Shares of BRO stock opened at $79.38 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.10 and a current ratio of 2.10. The firm’s 50 day moving average price is $79.87 and its 200-day moving average price is $89.87. Brown & Brown has a one year low of $76.17 and a one year high of $125.68. The firm has a market cap of $27.10 billion, a P/E ratio of 23.77, a P/E/G ratio of 1.76 and a beta of 0.81.

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 the consensus estimate of $0.90 by $0.15. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up 35.4% on a year-over-year basis. As a group, equities research analysts predict that Brown & Brown will post 4.18 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. ST Germain D J Co. Inc. grew its stake 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 buying an additional 200 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Brown & Brown during the second quarter worth $30,000. Cornerstone Planning Group LLC grew its stake in shares of Brown & Brown by 423.1% in 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. Motco acquired a new stake in Brown & Brown in the 2nd quarter valued at $32,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of Brown & Brown by 1,129.6% during the second quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 305 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Company Profile

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.