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

Brown & Brown (NYSE:BRO) had its price objective reduced by equities researchers at Barclays from $84.00 to $83.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 2.96% from the stock’s current price.

A number of other research firms also recently commented on BRO. Mizuho set a $89.00 price objective on shares of Brown & Brown and gave the company a “neutral” rating in a research note on Monday, December 15th. Morgan Stanley reduced their price target on shares of Brown & Brown from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, November 17th. Bank of America reissued a “neutral” rating and issued a $97.00 price objective (down from $135.00) on shares of Brown & Brown in a report on Monday, November 3rd. Wells Fargo & Company cut their price objective on Brown & Brown from $98.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 29th. Finally, Wolfe Research started coverage on Brown & Brown in a research report on Thursday, November 20th. They issued a “peer perform” rating for the company. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and an average target price of $99.80.

Brown & Brown Stock Up 2.3%

Shares of NYSE BRO traded up $1.80 during midday trading on Thursday, reaching $80.61. 3,004,771 shares of the company’s stock were exchanged, compared to its average volume of 2,987,189. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.10 and a current ratio of 2.10. Brown & Brown has a 52-week low of $76.17 and a 52-week high of $125.68. The business’s fifty day moving average price is $79.78 and its two-hundred day moving average price is $90.92. The stock has a market capitalization of $27.52 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.77 and a beta of 0.81.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.Brown & Brown’s quarterly revenue was up 35.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. Analysts forecast that Brown & Brown will post 4.18 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Fulton Bank N.A. boosted its stake in Brown & Brown by 7.3% during the fourth quarter. Fulton Bank N.A. now owns 2,645 shares of the financial services provider’s stock valued at $211,000 after buying an additional 180 shares in the last quarter. Maridea Wealth Management LLC lifted its position in shares of Brown & Brown by 87.0% during the 4th quarter. Maridea Wealth Management LLC now owns 23,442 shares of the financial services provider’s stock valued at $1,868,000 after acquiring an additional 10,905 shares during the last quarter. American National Bank of Texas boosted its stake in shares of Brown & Brown by 5.7% during the 4th quarter. American National Bank of Texas now owns 4,911 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 264 shares in the last quarter. Impact Capital Partners LLC acquired a new position in shares of Brown & Brown in the 4th quarter worth $221,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Brown & Brown by 60.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,418 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 535 shares during the period. 71.01% of the stock is currently owned by institutional investors.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.