Wells Fargo & Company Has Lowered Expectations for Brown & Brown (NYSE:BRO) Stock Price

Brown & Brown (NYSE:BRO) had its target price decreased by equities research analysts at Wells Fargo & Company from $69.00 to $68.00 in a report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 6.01% from the stock’s current price.

BRO has been the topic of several other research reports. Citigroup reaffirmed a “market outperform” rating on shares of Brown & Brown in a research report on Monday. Citizens Jmp reduced their price target on Brown & Brown from $78.00 to $75.00 and set a “market outperform” rating for the company in a research report on Monday. Barclays reduced their price target on Brown & Brown from $76.00 to $71.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 7th. TD Cowen began coverage on Brown & Brown in a research note on Monday. They set a “buy” rating and a $82.00 price objective for the company. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and an average price target of $76.00.

Brown & Brown Price Performance

NYSE BRO opened at $64.15 on Monday. 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 firm’s 50 day moving average price is $67.43 and its 200-day moving average price is $64.85. Brown & Brown has a 52-week low of $53.81 and a 52-week high of $95.25. The company 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 (NYSE:BRO) last issued 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). The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. Sell-side analysts forecast that Brown & Brown will post 4.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Union Bancaire Privee UBP SA purchased a new position in Brown & Brown during the first quarter valued at $25,000. Allied Private Wealth LLC acquired a new stake in shares of Brown & Brown in the second quarter valued at about $35,000. Continuum Advisory LLC purchased a new stake in shares of Brown & Brown during the second quarter worth about $34,000. Johnson Financial Group Inc. purchased a new stake in shares of Brown & Brown during the second quarter worth about $37,000. Finally, Elevation Wealth Partners LLC increased its stake in shares of Brown & Brown by 175.1% during the third quarter. Elevation Wealth Partners LLC now owns 619 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 394 shares in the last quarter. Institutional investors 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.