Brown & Brown (NYSE:BRO) Price Target Raised to $116.00

Brown & Brown (NYSE:BRO) had its target price raised by Truist Financial from $112.00 to $116.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. UBS Group boosted their price target on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Barclays started coverage on Brown & Brown in a report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price target for the company. Wells Fargo & Company upped their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Raymond James upped their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods upped their target price on Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.67.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $106.39 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35. Brown & Brown has a fifty-two week low of $66.73 and a fifty-two week high of $107.67. The stock has a market capitalization of $30.35 billion, a PE ratio of 30.57, a P/E/G ratio of 2.49 and a beta of 0.83. The business has a fifty day moving average price of $103.57 and a two-hundred day moving average price of $94.43.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm earned $0.68 EPS. Brown & Brown’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts predict that Brown & Brown will post 3.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares in the company, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares in the company, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The disclosure for this sale can be found here. Corporate insiders own 16.43% of the company’s stock.

Institutional Investors Weigh In On Brown & Brown

Institutional investors and hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC boosted its position in shares of Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Brown & Brown during the 1st quarter valued at about $32,000. Alaska Permanent Fund Corp bought a new stake in shares of Brown & Brown during the 1st quarter valued at about $36,000. Finally, First PREMIER Bank bought a new stake in shares of Brown & Brown during the 1st quarter valued at about $40,000. Institutional investors own 71.01% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.