Barclays Issues Positive Forecast for Brown & Brown (NYSE:BRO) Stock Price

Brown & Brown (NYSE:BRO) had its target price hoisted by stock analysts at Barclays from $108.00 to $119.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential upside of 8.57% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Truist Financial lifted their price target 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. Jefferies Financial Group lifted their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company lifted their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Argus initiated coverage on Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $107.42.

Brown & Brown Price Performance

Shares of BRO opened at $109.61 on Thursday. The business has a 50-day simple moving average of $105.80 and a two-hundred day simple moving average of $98.54. Brown & Brown has a 12-month low of $69.13 and a 12-month high of $114.08. The stock has a market cap of $31.34 billion, a PE ratio of 29.87, a PEG ratio of 2.52 and a beta of 0.82. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52.

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, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned $0.71 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts anticipate that Brown & Brown will post 3.74 earnings per share for the current fiscal year.

Insider Transactions at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brown & Brown

Institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group bought a new stake in shares of Brown & Brown during the 3rd quarter valued at $26,000. Crewe Advisors LLC grew its holdings in Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after buying an additional 228 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in Brown & Brown by 298.5% during the 3rd 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 purchased a new stake in shares of Brown & Brown in the third quarter worth about $29,000. Finally, Blue Trust Inc. boosted its position in shares of Brown & Brown by 142.3% in the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 323 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Company Profile

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.