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

Brown & Brown (NYSE:BRO) had its price target lowered by research analysts at Keefe, Bruyette & Woods from $99.00 to $97.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential downside of 4.89% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Bank of America increased their price objective on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company raised their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Truist Financial increased their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price target on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $112.08.

Brown & Brown Stock Down 0.5 %

Shares of NYSE BRO traded down $0.54 during mid-day trading on Friday, reaching $101.99. The company had a trading volume of 266,452 shares, compared to its average volume of 1,178,729. The firm has a 50 day simple moving average of $106.87 and a two-hundred day simple moving average of $102.62. Brown & Brown has a 52-week low of $72.19 and a 52-week high of $114.15. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The stock has a market cap of $29.16 billion, a P/E ratio of 27.79, a PEG ratio of 2.40 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company posted $0.71 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts predict that Brown & Brown will post 3.74 earnings per share for the current year.

Institutional Investors Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently modified their holdings of BRO. Brooklyn Investment Group purchased a new stake in Brown & Brown during the third quarter worth $26,000. ST Germain D J Co. Inc. increased its position in shares of Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Brown & Brown during the 3rd quarter worth $29,000. Versant Capital Management Inc boosted its position in shares of Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after buying an additional 234 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Brown & Brown in the 3rd quarter valued at about $58,000. 71.01% of the stock is currently 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.