Brown & Brown (NYSE:BRO) Stock Price Target Cut by Citizens Jmp

Brown & Brown (NYSE:BRO) had its target price lowered by investment analysts at Citizens Jmp from $78.00 to $75.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s target price indicates a potential upside of 16.92% from the stock’s previous close.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Brown & Brown from $80.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, October 1st. Oppenheimer started coverage on Brown & Brown in a report on Wednesday, October 7th. They set an “outperform” rating and a $73.00 price objective on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of Brown & Brown in a research report on Wednesday, July 29th. Wells Fargo & Company dropped their target price on Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday, July 9th. Finally, UBS Group reiterated a “neutral” rating and issued a $73.00 target price (up from $65.00) on shares of Brown & Brown in a research note on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus price target of $76.00.

Brown & Brown Stock Performance

NYSE:BRO opened at $64.15 on Monday. The firm has a 50 day simple moving average of $67.43 and a 200-day simple moving average of $64.85. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market cap of $21.46 billion, a PE ratio of 14.34, a P/E/G ratio of 1.89 and a beta of 0.60. Brown & Brown has a 1-year low of $53.81 and a 1-year high of $95.25.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the company posted $1.03 EPS. The business’s quarterly revenue was up 30.4% on a year-over-year basis. On average, equities analysts expect that Brown & Brown will post 4.49 EPS for the current year.

Hedge Funds Weigh In On Brown & Brown

Institutional investors and hedge funds have recently bought and sold shares of the stock. Union Bancaire Privee UBP SA purchased a new position in shares of Brown & Brown in the first quarter valued at $25,000. Allied Private Wealth LLC acquired a new stake in Brown & Brown during the 2nd quarter valued at $35,000. Continuum Advisory LLC acquired a new stake in Brown & Brown during the 2nd quarter valued at $34,000. Johnson Financial Group Inc. purchased a new stake in Brown & Brown during the 2nd quarter worth $37,000. Finally, Elevation Wealth Partners LLC increased its stake in Brown & Brown by 175.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 619 shares of the financial services provider’s stock worth $40,000 after buying an additional 394 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

More Brown & Brown News

Here are the key news stories impacting Brown & Brown this week:

• Positive Sentiment: TD Cowen initiated coverage of Brown & Brown with a Buy rating, arguing the insurance broker could be positioned for an upward re-rating. The new bullish view is the clearest positive catalyst in the latest coverage. TD Cowen initiates coverage of Brown & Brown with buy
• Positive Sentiment: Citizens JMP lowered its price target to $75 from $78 but retained a Market Outperform rating, implying meaningful potential upside from the recent trading level. Brown & Brown given new $75 price target at Citizens JMP
• Neutral Sentiment: Wells Fargo reduced its price target to $68 from $69 and maintained an Equal Weight rating. The target remains above the recent price, but the cut indicates limited analyst conviction. Brown & Brown given new $68 price target at Wells Fargo
• Neutral Sentiment: Brown & Brown is expanding its talent pipeline by placing 16 graduates across six regional offices in a three-year professional insurance training program. The initiative supports longer-term growth but is unlikely to materially affect near-term earnings. Brown & Brown graduate training program
• Negative Sentiment: BofA cut its price target to $81 from $87 while keeping a Neutral rating, reflecting a more cautious view of valuation or near-term performance. BofA adjusts Brown & Brown price target
• Negative Sentiment: Recent commentary questions whether insurer payments and other items may be masking weakness in Brown & Brown’s core brokerage operations. That raises concerns about the durability of underlying business performance despite the company’s long-term insurance-sector positioning. Brown & Brown core business analysis

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.