Brown & Brown (NYSE:BRO – Get Free Report)‘s stock had its “outperform” rating reaffirmed by research analysts at BMO Capital Markets in a research note issued to investors on Thursday, Marketbeat reports. They presently have a $122.00 target price on the financial services provider’s stock, up from their previous target price of $116.00. BMO Capital Markets’ target price would suggest a potential upside of 13.88% from the company’s current price.
A number of other analysts have also recently weighed in on BRO. Wells Fargo & Company raised their price objective on Brown & Brown from $125.00 to $127.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial lowered their price target on Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Morgan Stanley reiterated an “equal weight” rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. The Goldman Sachs Group cut Brown & Brown from a “buy” rating to a “neutral” rating and cut their target price for the stock from $126.00 to $119.00 in a research report on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods cut their target price on Brown & Brown from $102.00 to $100.00 and set an “underperform” rating on the stock in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average target price of $118.85.
Check Out Our Latest Analysis on Brown & Brown
Brown & Brown Price Performance
Brown & Brown (NYSE:BRO – Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. On average, equities analysts anticipate that Brown & Brown will post 4.18 EPS for the current fiscal year.
Hedge Funds Weigh In On Brown & Brown
A number of large investors have recently modified their holdings of BRO. Parnassus Investments LLC acquired a new position in Brown & Brown during the first quarter worth approximately $899,139,000. Norges Bank bought a new position in Brown & Brown in the fourth quarter valued at approximately $313,412,000. First Trust Advisors LP increased its holdings in shares of Brown & Brown by 626.6% during the fourth quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider’s stock worth $239,751,000 after buying an additional 2,026,589 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in shares of Brown & Brown in the fourth quarter worth $198,031,000. Finally, Vanguard Group Inc. grew its stake in shares of Brown & Brown by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock worth $3,054,493,000 after purchasing an additional 1,335,964 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Stories
- Five stocks we like better than Brown & Brown
- How to Calculate Return on Investment (ROI)
- Could Meta and Eli Lilly Trigger the Next Stock Split Boom?
- Election Stocks: How Elections Affect the Stock Market
- Is D-Wave’s Latest $400M Sales Agreement a Dilution Deal-Breaker?
- Manufacturing Stocks Investing
- Iran Conflict Fuels Fertilizer Stocks’ Bullish Setup
Receive News & Ratings for Brown & Brown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown and related companies with MarketBeat.com's FREE daily email newsletter.