Brown & Brown (NYSE:BRO) Earns Overweight Rating from Wells Fargo & Company

Brown & Brown (NYSE:BROGet Free Report)‘s stock had its “overweight” rating reaffirmed by Wells Fargo & Company in a report issued on Thursday, Marketbeat Ratings reports. They currently have a $127.00 price objective on the financial services provider’s stock, up from their prior price objective of $125.00. Wells Fargo & Company‘s target price would suggest a potential upside of 18.69% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Barclays upped their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, April 11th. UBS Group increased their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 9th. Truist Financial lowered their price target on shares of Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Edward Jones started coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group downgraded shares of Brown & Brown from a “buy” rating to a “neutral” rating and cut their price target for the stock from $126.00 to $119.00 in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $118.85.

Check Out Our Latest Research Report on Brown & Brown

Brown & Brown Stock Up 0.4%

Shares of NYSE BRO traded up $0.39 during midday trading on Thursday, reaching $107.01. 978,014 shares of the company’s stock were exchanged, compared to its average volume of 1,642,642. Brown & Brown has a 52-week low of $88.31 and a 52-week high of $125.68. The stock has a market capitalization of $30.68 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 2.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The business’s fifty day moving average price is $112.38 and its two-hundred day moving average price is $111.05.

Brown & Brown (NYSE:BROGet Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Analysts forecast that Brown & Brown will post 4.18 EPS for the current year.

Hedge Funds Weigh In On Brown & Brown

Institutional investors have recently made changes to their positions in the stock. Capital Investment Advisors LLC bought a new stake in shares of Brown & Brown in the 1st quarter valued at about $1,929,000. Arrowstreet Capital Limited Partnership lifted its position in Brown & Brown by 395.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider’s stock valued at $3,489,000 after acquiring an additional 27,297 shares during the period. National Bank of Canada FI raised its holdings in Brown & Brown by 56.8% in the fourth quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider’s stock worth $19,365,000 after buying an additional 68,745 shares during the last quarter. FORA Capital LLC purchased a new position in shares of Brown & Brown during the fourth quarter valued at approximately $580,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Brown & Brown by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after purchasing an additional 40,881 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

About Brown & Brown

(Get Free Report)

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.

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