Brown & Brown (NYSE:BRO) Price Target Cut to $78.00 by Analysts at Wells Fargo & Company

Brown & Brown (NYSE:BRO) had its price objective reduced by stock analysts at Wells Fargo & Company from $82.00 to $78.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 13.71% from the stock’s current price.

Several other analysts have also issued reports on the company. Wolfe Research started coverage on Brown & Brown in a research note on Thursday, November 20th. They issued a “peer perform” rating for the company. Morgan Stanley lowered their price objective on shares of Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, January 29th. Argus raised shares of Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. JPMorgan Chase & Co. began coverage on shares of Brown & Brown in a research note on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price target for the company. Finally, Truist Financial cut their price target on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average target price of $90.36.

Brown & Brown Trading Up 2.4%

Shares of BRO opened at $68.60 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 2.10. Brown & Brown has a 1-year low of $65.68 and a 1-year high of $125.68. The company has a market capitalization of $23.42 billion, a P/E ratio of 21.48, a P/E/G ratio of 2.02 and a beta of 0.79. The firm’s 50 day simple moving average is $77.58 and its 200 day simple moving average is $85.34.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The business’s quarterly revenue was up 35.7% on a year-over-year basis. During the same quarter last year, the company posted $0.86 EPS. Sell-side analysts forecast that Brown & Brown will post 4.18 earnings per share for the current fiscal year.

Institutional Trading of Brown & Brown

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Brown & Brown by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 37,634,847 shares of the financial services provider’s stock worth $2,999,497,000 after acquiring an additional 303,955 shares in the last quarter. Capital World Investors raised its holdings in Brown & Brown by 2.3% in the fourth quarter. Capital World Investors now owns 17,886,395 shares of the financial services provider’s stock worth $1,425,546,000 after purchasing an additional 407,006 shares in the last quarter. Principal Financial Group Inc. lifted its position in Brown & Brown by 13.4% during the third quarter. Principal Financial Group Inc. now owns 15,416,190 shares of the financial services provider’s stock valued at $1,445,888,000 after buying an additional 1,821,229 shares during the period. State Street Corp lifted its position in Brown & Brown by 5.3% during the third quarter. State Street Corp now owns 13,120,826 shares of the financial services provider’s stock valued at $1,230,602,000 after buying an additional 660,005 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Brown & Brown by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 7,952,957 shares of the financial services provider’s stock worth $631,495,000 after buying an additional 118,225 shares during the period. 71.01% of the stock is owned by 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.