Brown & Brown (NYSE:BRO) Rating Lowered to “Neutral” at The Goldman Sachs Group

Brown & Brown (NYSE:BRO) was downgraded by analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Tuesday,Finviz reports. They presently have a $119.00 price objective on the financial services provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 7.52% from the company’s current price.

Other research analysts have also issued research reports about the company. Truist Financial reduced their price target on Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods decreased their target price on Brown & Brown from $102.00 to $100.00 and set an “underperform” rating for the company in a research report on Monday, May 5th. Edward Jones initiated coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They issued a “buy” rating on the stock. Royal Bank of Canada lifted their price target on shares of 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 set a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $116.85.

Brown & Brown Price Performance

NYSE:BRO opened at $110.68 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $31.72 billion, a P/E ratio of 31.99, a P/E/G ratio of 2.93 and a beta of 0.87. Brown & Brown has a 52 week low of $85.97 and a 52 week high of $125.68. The stock’s fifty day moving average is $116.97 and its two-hundred day moving average is $110.94.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts expect that Brown & Brown will post 4.18 EPS for the current year.

Institutional Trading of Brown & Brown

A number of large investors have recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Brown & Brown in the fourth quarter worth $28,000. Johnson Financial Group Inc. grew its stake in Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 235 shares during the period. Y.D. More Investments Ltd lifted its position in Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 162 shares during the period. R Squared Ltd purchased a new stake in shares of Brown & Brown in the 4th quarter worth approximately $31,000. Finally, Sunbelt Securities Inc. raised its position in shares of Brown & Brown by 581.8% in the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 256 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

About Brown & Brown

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.