Brown & Brown (NYSE:BRO) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Brown & Brown (NYSE:BRO) had its price objective boosted by equities researchers at Keefe, Bruyette & Woods from $73.00 to $74.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 11.53% from the company’s previous close.

BRO has been the subject of several other research reports. Royal Bank Of Canada began coverage on Brown & Brown in a report on Tuesday, March 17th. They issued a “sector perform” rating and a $76.00 price objective for the company. Argus raised Brown & Brown to a “hold” rating in a research report on Tuesday, January 27th. Weiss Ratings restated a “hold (c)” rating on shares of Brown & Brown in a research note on Monday, December 29th. Mizuho raised Brown & Brown from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $84.00 to $85.00 in a research report on Friday, February 27th. Finally, BMO Capital Markets dropped their price objective on Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research note on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and an average target price of $88.87.

Brown & Brown Stock Down 0.3%

BRO traded down $0.17 during trading hours on Tuesday, hitting $66.35. 809,516 shares of the company’s stock were exchanged, compared to its average volume of 3,438,611. The stock has a market cap of $22.59 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 1.66 and a beta of 0.83. Brown & Brown has a 1-year low of $63.29 and a 1-year high of $121.70. The stock’s 50-day moving average is $69.16 and its two-hundred day moving average is $78.41. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business earned $0.86 EPS. The company’s revenue was up 35.7% compared to the same quarter last year. Sell-side analysts predict that Brown & Brown will post 4.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Brown & Brown by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 37,634,847 shares of the financial services provider’s stock valued at $2,999,497,000 after buying an additional 303,955 shares during the last quarter. Capital World Investors increased its holdings in shares of Brown & Brown by 2.3% during the 4th quarter. Capital World Investors now owns 17,886,395 shares of the financial services provider’s stock worth $1,425,546,000 after acquiring an additional 407,006 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Brown & Brown by 13.4% during the 3rd quarter. Principal Financial Group Inc. now owns 15,416,190 shares of the financial services provider’s stock worth $1,445,888,000 after acquiring an additional 1,821,229 shares during the last quarter. State Street Corp raised its stake in Brown & Brown by 2.2% in the 4th quarter. State Street Corp now owns 13,403,814 shares of the financial services provider’s stock valued at $1,068,284,000 after acquiring an additional 282,988 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Brown & Brown by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 7,952,957 shares of the financial services provider’s stock valued at $631,495,000 after purchasing an additional 118,225 shares during the last quarter. Institutional investors 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.