Wells Fargo & Company Cuts Brown & Brown (NYSE:BRO) Price Target to $84.00

Brown & Brown (NYSE:BRO) had its target price lowered by stock analysts at Wells Fargo & Company from $92.00 to $84.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 6.43% from the company’s previous close.

A number of other research analysts also recently issued reports on BRO. Barclays cut their price objective on Brown & Brown from $84.00 to $83.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. Morgan Stanley lowered 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 report on Monday, November 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Brown & Brown in a research note on Monday, December 29th. Mizuho set a $89.00 price objective on shares of Brown & Brown and gave the company a “neutral” rating in a research report on Monday, December 15th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Brown & Brown from $79.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, January 6th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $99.27.

Brown & Brown Stock Performance

Shares of Brown & Brown stock traded down $0.69 on Tuesday, hitting $78.93. 425,204 shares of the company’s stock were exchanged, compared to its average volume of 2,554,012. Brown & Brown has a 1 year low of $76.17 and a 1 year high of $125.68. The company has a 50-day simple moving average of $79.84 and a 200-day simple moving average of $90.16. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market capitalization of $26.95 billion, a PE ratio of 23.65, a PEG ratio of 1.78 and a beta of 0.81.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 27th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm earned $0.91 EPS. Brown & Brown’s revenue for the quarter was up 35.4% compared to the same quarter last year. As a group, equities analysts anticipate that Brown & Brown will post 4.18 EPS for the current year.

Institutional Trading of Brown & Brown

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRO. Spring Capital Management LLC grew its stake in Brown & Brown by 1.1% in the 4th quarter. Spring Capital Management LLC now owns 101,631 shares of the financial services provider’s stock valued at $8,100,000 after acquiring an additional 1,121 shares during the period. Czech National Bank boosted its stake in Brown & Brown by 4.0% during the fourth quarter. Czech National Bank now owns 77,423 shares of the financial services provider’s stock worth $6,171,000 after buying an additional 3,008 shares during the period. Curated Wealth Partners LLC purchased a new stake in Brown & Brown in the fourth quarter valued at approximately $207,000. Avanza Fonder AB increased its stake in Brown & Brown by 35.8% during the 4th quarter. Avanza Fonder AB now owns 30,139 shares of the financial services provider’s stock worth $2,402,000 after buying an additional 7,949 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Brown & Brown by 7,294.9% during the fourth quarter. SG Americas Securities LLC now owns 221,109 shares of the financial services provider’s stock worth $17,622,000 after buying an additional 218,119 shares during the period. 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.