Keefe, Bruyette & Woods Lowers Brown & Brown (NYSE:BRO) Price Target to $97.00

Brown & Brown (NYSE:BRO) had its price target cut by stock analysts at Keefe, Bruyette & Woods from $99.00 to $97.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential downside of 4.98% from the stock’s previous close.

BRO has been the subject of a number of other research reports. Wells Fargo & Company upped their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Barclays upped their target price on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Morgan Stanley initiated coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target on the stock. Truist Financial raised their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Argus began coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.08.

Brown & Brown Trading Down 0.4 %

Brown & Brown stock opened at $102.08 on Friday. The firm has a market capitalization of $29.19 billion, a PE ratio of 27.81, a PEG ratio of 2.40 and a beta of 0.85. The business’s 50-day simple moving average is $106.82 and its 200-day simple moving average is $102.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. Brown & Brown has a 52 week low of $72.19 and a 52 week high of $114.15.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. Brown & Brown’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. Equities research analysts forecast that Brown & Brown will post 3.74 earnings per share for the current year.

Institutional Trading of Brown & Brown

Several hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC increased its stake in shares of Brown & Brown by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after buying an additional 6,805 shares during the period. Quantbot Technologies LP acquired a new position in shares of Brown & Brown during the 3rd quarter worth about $9,832,000. Charles Schwab Investment Management Inc. grew its stake in shares of Brown & Brown by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after buying an additional 17,934 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Brown & Brown by 8.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,553,396 shares of the financial services provider’s stock worth $138,899,000 after purchasing an additional 114,688 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Brown & Brown by 48.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 235,617 shares of the financial services provider’s stock valued at $24,410,000 after purchasing an additional 76,694 shares during the last quarter. 71.01% of the stock is owned by 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.