Brown & Brown (NYSE:BRO) Price Target Cut to $72.00 by Analysts at Wells Fargo & Company

Brown & Brown (NYSE:BRO) had its price objective decreased by Wells Fargo & Company from $78.00 to $72.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 6.86% from the stock’s current price.

Several other research analysts also recently commented on BRO. Keefe, Bruyette & Woods lifted their target price on shares of Brown & Brown from $73.00 to $74.00 and gave the stock a “market perform” rating in a research note on Tuesday. Jefferies Financial Group reduced their price objective on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. UBS Group reissued a “neutral” rating and set a $81.00 price objective (down from $90.00) on shares of Brown & Brown in a research report on Thursday, January 29th. Truist Financial reduced their price objective on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Finally, BMO Capital Markets reduced their price objective on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research report on Thursday, January 29th. Four research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.87.

Brown & Brown Trading Down 0.6%

Shares of NYSE BRO traded down $0.38 during mid-day trading on Thursday, hitting $67.38. The stock had a trading volume of 162,239 shares, compared to its average volume of 3,410,903. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.66 and a current ratio of 1.66. Brown & Brown has a 1 year low of $63.29 and a 1 year high of $121.70. The business has a 50 day moving average price of $68.92 and a two-hundred day moving average price of $78.15. The firm has a market cap of $22.94 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.66 and a beta of 0.83.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. On average, equities analysts anticipate that Brown & Brown will post 4.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BRO. Hsbc Holdings PLC boosted its holdings in shares of Brown & Brown by 3.7% during the 4th quarter. Hsbc Holdings PLC now owns 610,737 shares of the financial services provider’s stock valued at $48,744,000 after buying an additional 21,643 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Brown & Brown by 163.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 62,498 shares of the financial services provider’s stock valued at $4,981,000 after buying an additional 38,732 shares in the last quarter. World Investment Advisors boosted its holdings in shares of Brown & Brown by 24.5% during the 4th quarter. World Investment Advisors now owns 3,994 shares of the financial services provider’s stock valued at $318,000 after buying an additional 785 shares in the last quarter. AG Campbell Advisory LLC bought a new stake in shares of Brown & Brown during the 4th quarter valued at $1,732,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Brown & Brown by 352.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,690 shares of the financial services provider’s stock valued at $294,000 after buying an additional 2,875 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.