Mizuho Has Lowered Expectations for Brown & Brown (NYSE:BRO) Stock Price

Brown & Brown (NYSE:BRO) had its price objective dropped by analysts at Mizuho from $83.00 to $78.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price objective indicates a potential upside of 25.95% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a research report on Friday, June 26th. UBS Group reissued a “neutral” rating and set a $73.00 price target (up from $65.00) on shares of Brown & Brown in a report on Wednesday, July 8th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods lifted their price target on Brown & Brown from $72.00 to $74.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Finally, Citigroup lowered shares of Brown & Brown from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $70.00 to $79.00 in a report on Wednesday, July 29th. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $75.62.

Brown & Brown Stock Up 1.6%

BRO traded up $0.96 on Wednesday, hitting $61.93. 923,575 shares of the company were exchanged, compared to its average volume of 2,954,962. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11. The stock’s fifty day moving average is $68.29 and its 200-day moving average is $64.96. The company has a market cap of $20.72 billion, a PE ratio of 19.51, a PEG ratio of 1.87 and a beta of 0.60. Brown & Brown has a 12 month low of $53.81 and a 12 month high of $96.55.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s revenue was up 30.4% compared to the same quarter last year. Equities research analysts predict that Brown & Brown will post 4.5 EPS for the current fiscal year.

Institutional Trading of Brown & Brown

Several hedge funds have recently added to or reduced their stakes in BRO. Union Bancaire Privee UBP SA purchased a new stake in shares of Brown & Brown during the first quarter worth $25,000. Allied Private Wealth LLC purchased a new stake in shares of Brown & Brown during the 2nd quarter valued at $35,000. Continuum Advisory LLC bought a new stake in shares of Brown & Brown during the 2nd quarter worth $34,000. Johnson Financial Group Inc. bought a new stake in shares of Brown & Brown during the 2nd quarter worth $37,000. Finally, Gables Capital Management Inc. purchased a new position in Brown & Brown in the second quarter worth $43,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc is an independent insurance brokerage, risk management and employee benefits firm headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance placement, risk consulting and related services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialized insurance programs. Brown & Brown also operates wholesale brokerage businesses that provide coverage solutions and access to insurance markets for retail agents and brokers, including products designed for specialty and hard-to-place risks.

Founded in 1939 by J.