Brown & Brown (NYSE:BRO) Stock Price Expected to Rise, Truist Financial Analyst Says

Brown & Brown (NYSE:BRO) had its price target increased by investment analysts at Truist Financial from $118.00 to $138.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 16.07% from the company’s previous close.

Other research analysts have also issued reports about the stock. Morgan Stanley restated an “equal weight” rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Keefe, Bruyette & Woods upped their price objective on shares of Brown & Brown from $97.00 to $102.00 and gave the company an “underperform” rating in a research note on Wednesday, April 9th. Barclays lifted their target price on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, April 11th. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, UBS Group lifted their price objective on Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $117.50.

Brown & Brown Stock Down 0.5 %

BRO stock opened at $118.89 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The company’s 50 day simple moving average is $116.90 and its 200-day simple moving average is $109.83. Brown & Brown has a 12 month low of $80.33 and a 12 month high of $125.68. The firm has a market capitalization of $33.99 billion, a PE ratio of 34.36, a P/E/G ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS 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%. Equities analysts expect that Brown & Brown will post 4.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BRO. Norges Bank acquired a new stake in shares of Brown & Brown in the fourth quarter worth $313,412,000. First Trust Advisors LP boosted its position in Brown & Brown by 626.6% during the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider’s stock worth $239,751,000 after purchasing an additional 2,026,589 shares during the period. Madison Investment Advisors LLC acquired a new stake in Brown & Brown in the 4th quarter valued at $198,031,000. Vanguard Group Inc. increased its holdings in Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock valued at $3,054,493,000 after purchasing an additional 1,335,964 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in 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 during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.