Brown & Brown (NYSE:BRO) Given New $94.00 Price Target at Truist Financial

Brown & Brown (NYSE:BRO) had its price target lifted by stock analysts at Truist Financial from $92.00 to $94.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price indicates a potential upside of 13.35% from the company’s previous close.

Several other analysts have also recently weighed in on BRO. Citigroup increased their price target on shares of Brown & Brown from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group increased their price target on shares of Brown & Brown from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods increased their price target on shares of Brown & Brown from $75.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company increased their price objective on shares of Brown & Brown from $81.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Finally, Bank of America cut shares of Brown & Brown from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from $80.00 to $86.00 in a research report on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $87.00.

Brown & Brown Stock Up 0.5 %

BRO opened at $82.93 on Wednesday. Brown & Brown has a twelve month low of $60.00 and a twelve month high of $87.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $84.26 and a 200 day moving average price of $76.90. The company has a market cap of $23.66 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.82%. Brown & Brown’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. Sell-side analysts expect that Brown & Brown will post 3.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the transaction, the chairman now owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 16.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently modified their holdings of BRO. Fortitude Family Office LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at $31,000. Park Place Capital Corp raised its stake in Brown & Brown by 166.5% during the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 318 shares in the last quarter. Alaska Permanent Fund Corp acquired a new stake in Brown & Brown during the 1st quarter worth $36,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Brown & Brown by 174.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 348 shares in the last quarter. Finally, First PREMIER Bank acquired a new stake in Brown & Brown during the 1st quarter worth $40,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.