Mizuho Forecasts Strong Price Appreciation for Brown & Brown (NYSE:BRO) Stock

Brown & Brown (NYSE:BRO) had its price target raised by equities researchers at Mizuho from $81.00 to $84.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Mizuho‘s target price would suggest a potential upside of 16.91% from the stock’s current price.

BRO has been the topic of several other reports. Keefe, Bruyette & Woods upgraded shares of Brown & Brown from an “underperform” rating to an “outperform” rating and set a $77.00 price objective on the stock in a report on Monday, October 12th. TD Cowen initiated coverage on shares of Brown & Brown in a research note on Monday, October 12th. They set a “buy” rating and a $82.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Brown & Brown from $80.00 to $83.00 and gave the company a “neutral” rating in a research report on Thursday, October 1st. Morgan Stanley reduced their price target on shares of Brown & Brown from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 6th. Finally, Citizens Jmp decreased their price objective on shares of Brown & Brown from $78.00 to $75.00 and set a “market outperform” rating on the stock in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus price target of $75.82.

Brown & Brown Trading Up 1.8%

NYSE:BRO traded up $1.30 on Friday, reaching $71.85. The company’s stock had a trading volume of 1,798,320 shares, compared to its average volume of 2,771,330. Brown & Brown has a 12-month low of $53.81 and a 12-month high of $82.57. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.58. The firm has a market cap of $23.83 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 2.32 and a beta of 0.52. The stock has a 50 day moving average price of $66.88 and a 200 day moving average price of $66.51.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.76 billion. Brown & Brown had a net margin of 17.63% and a return on equity of 13.29%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned $1.05 EPS. On average, equities analysts anticipate that Brown & Brown will post 4.44 EPS for the current fiscal year.

Institutional Trading of Brown & Brown

Several hedge funds have recently made changes to their positions in the business. Westside Investment Management Inc. lifted its position in Brown & Brown by 84.7% in the 3rd quarter. Westside Investment Management Inc. now owns 399 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 183 shares in the last quarter. CX Institutional grew its stake in Brown & Brown by 3.1% in the 3rd quarter. CX Institutional now owns 6,242 shares of the financial services provider’s stock valued at $380,000 after buying an additional 189 shares during the last quarter. Gables Capital Management Inc. increased its position in Brown & Brown by 43.4% during the 3rd quarter. Gables Capital Management Inc. now owns 958 shares of the financial services provider’s stock worth $63,000 after buying an additional 290 shares during the period. Cetera Investment Advisers raised its position in shares of Brown & Brown by 0.9% in the first quarter. Cetera Investment Advisers now owns 36,804 shares of the financial services provider’s stock valued at $2,400,000 after buying an additional 311 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in Brown & Brown by 39.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,288 shares of the financial services provider’s stock worth $83,000 after buying an additional 364 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc. is an insurance brokerage and risk management company that helps businesses, public entities and individuals assess and manage risk. Its services include arranging property and casualty insurance, employee benefits and personal insurance, as well as providing risk management and related services. The company serves clients through retail insurance operations, national insurance programs, wholesale brokerage and insurance-related services. It operates primarily in the United States and also serves clients in international markets.