Jefferies Financial Group Raises Brown & Brown (NYSE:BRO) Price Target to $104.00

Brown & Brown (NYSE:BRO) had its price objective raised by research analysts at Jefferies Financial Group from $98.00 to $104.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective would suggest a potential downside of 1.86% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. UBS Group raised their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Truist Financial increased their price objective on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upgraded shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $94.00 to $112.00 in a research note on Monday, August 12th. Royal Bank of Canada increased their price objective on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, StockNews.com upgraded Brown & Brown from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.83.

Brown & Brown Price Performance

BRO stock traded up $0.72 during mid-day trading on Wednesday, hitting $105.97. The company had a trading volume of 468,147 shares, compared to its average volume of 1,303,226. The company has a market capitalization of $30.23 billion, a price-to-earnings ratio of 32.58, a P/E/G ratio of 2.44 and a beta of 0.83. Brown & Brown has a 12-month low of $66.73 and a 12-month high of $106.37. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $102.63 and a 200 day moving average price of $93.47.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $0.68 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. On average, research analysts anticipate that Brown & Brown will post 3.68 earnings per share for the current year.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.02% of the company’s stock.

Institutional Trading of Brown & Brown

Institutional investors have recently bought and sold shares of the business. Chilton Investment Co. Inc. increased its holdings in Brown & Brown by 18.4% in the 4th quarter. Chilton Investment Co. Inc. now owns 18,022 shares of the financial services provider’s stock worth $1,282,000 after acquiring an additional 2,800 shares in the last quarter. Osterweis Capital Management Inc. boosted its stake in Brown & Brown by 1.2% during the 4th quarter. Osterweis Capital Management Inc. now owns 386,779 shares of the financial services provider’s stock worth $27,504,000 after purchasing an additional 4,668 shares during the last quarter. Quarry LP purchased a new stake in shares of Brown & Brown during the fourth quarter worth $54,000. Speece Thorson Capital Group Inc. lifted its stake in Brown & Brown by 0.7% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 139,077 shares of the financial services provider’s stock worth $9,890,000 after purchasing an additional 936 shares in the last quarter. Finally, Cim LLC acquired a new position in Brown & Brown in the 4th quarter valued at about $1,055,000. 71.01% of the stock is owned by institutional investors and hedge funds.

About Brown & Brown

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.