Brown & Brown (NYSE:BRO) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Brown & Brown (NYSE:BRO) had its price target hoisted by equities research analysts at Keefe, Bruyette & Woods from $79.00 to $80.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 0.63% from the company’s current price.

A number of other equities research analysts have also issued reports on BRO. Weiss Ratings reissued a “hold (c)” rating on shares of Brown & Brown in a research note on Monday, December 29th. Wall Street Zen raised Brown & Brown from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Bank of America reiterated a “neutral” rating and issued a $97.00 target price (down previously from $135.00) on shares of Brown & Brown in a research note on Monday, November 3rd. Truist Financial decreased their price target on shares of Brown & Brown from $120.00 to $114.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Finally, Citigroup cut Brown & Brown from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. Four 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’s stock. According to data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average price target of $99.87.

Brown & Brown Stock Performance

NYSE BRO traded down $0.42 on Tuesday, hitting $79.50. The stock had a trading volume of 1,203,557 shares, compared to its average volume of 2,584,624. The company’s 50-day moving average is $79.86 and its two-hundred day moving average is $91.20. Brown & Brown has a one year low of $76.17 and a one year high of $125.68. The stock has a market cap of $27.14 billion, a price-to-earnings ratio of 23.82, a P/E/G ratio of 1.65 and a beta of 0.81. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.62.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.15. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The company’s quarterly revenue was up 35.4% compared to the same quarter last year. On average, analysts expect that Brown & Brown will post 4.18 earnings per share for the current year.

Hedge Funds Weigh In On Brown & Brown

A number of institutional investors have recently bought and sold shares of BRO. Access Investment Management LLC bought a new stake in shares of Brown & Brown during the 2nd quarter valued at approximately $1,109,000. Invesco Ltd. increased its holdings in Brown & Brown by 1.1% in the second quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock valued at $461,925,000 after purchasing an additional 46,235 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Brown & Brown by 30.6% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 760,893 shares of the financial services provider’s stock valued at $84,360,000 after buying an additional 178,082 shares during the period. Caitlin John LLC bought a new position in Brown & Brown during the 2nd quarter worth approximately $1,432,000. Finally, Quadrature Capital Ltd bought a new position in Brown & Brown during the second quarter worth $1,635,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Company Profile

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.