Brown & Brown (NYSE:BRO - Get Free Report) had its price target increased by equities researchers at Keefe, Bruyette & Woods from $97.00 to $102.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "underperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price objective would suggest a potential downside of 15.59% from the company's current price.
Several other equities research analysts also recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Bank of America raised their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Royal Bank of Canada increased their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $115.83.
View Our Latest Stock Report on Brown & Brown
Brown & Brown Price Performance
Shares of BRO stock traded up $1.98 during trading hours on Wednesday, hitting $120.84. The company had a trading volume of 520,079 shares, compared to its average volume of 1,426,070. The firm's fifty day moving average is $116.39 and its 200 day moving average is $109.63. Brown & Brown has a 12 month low of $80.33 and a 12 month high of $125.68. The firm has a market capitalization of $34.55 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.93 and a beta of 0.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.
Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, sell-side analysts predict that Brown & Brown will post 4.18 EPS for the current fiscal year.
Hedge Funds Weigh In On Brown & Brown
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Brown & Brown by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after acquiring an additional 1,335,964 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Brown & Brown by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock worth $1,316,259,000 after buying an additional 94,121 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Brown & Brown by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider's stock worth $620,737,000 after buying an additional 118,569 shares during the period. Capital World Investors increased its stake in shares of Brown & Brown by 15.6% in the 4th quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider's stock valued at $428,043,000 after acquiring an additional 566,116 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Brown & Brown by 11.4% during the 4th quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider's stock valued at $388,045,000 after acquiring an additional 388,411 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.
Brown & Brown Company Profile
(
Get Free Report)
Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.
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