Brown & Brown (NYSE:BRO) Given New $121.00 Price Target at Barclays

Brown & Brown (NYSE:BRO) had its target price lifted by investment analysts at Barclays from $119.00 to $121.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 2.01% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Brown & Brown from $97.00 to $102.00 and gave the company an “underperform” rating in a report on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. Jefferies Financial Group increased their target price on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research note on Friday. Royal Bank of Canada lifted their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average target price of $115.83.

Brown & Brown Stock Performance

Shares of Brown & Brown stock traded up $1.35 during trading on Friday, hitting $118.61. 1,102,256 shares of the company’s stock were exchanged, compared to its average volume of 1,424,818. The stock has a market capitalization of $33.91 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 2.93 and a beta of 0.75. The business has a 50-day simple moving average of $116.13 and a 200-day simple moving average of $109.48. Brown & Brown has a 52-week low of $80.33 and a 52-week high of $125.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, research analysts forecast that Brown & Brown will post 4.18 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Brown & Brown in the fourth quarter worth about $313,412,000. First Trust Advisors LP raised its holdings in Brown & Brown by 626.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider’s stock valued at $239,751,000 after acquiring an additional 2,026,589 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in Brown & Brown in the 4th quarter worth approximately $198,031,000. Vanguard Group Inc. boosted its holdings in shares of Brown & Brown by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock worth $3,054,493,000 after purchasing an additional 1,335,964 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Brown & Brown by 13,974.9% in the first quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider’s stock valued at $138,427,000 after purchasing an additional 1,104,852 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Company Profile

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.