Brown & Brown (NYSE:BRO) PT Raised to $85.00 at Wells Fargo & Company

Brown & Brown (NYSE:BRO) had its price target hoisted by research analysts at Wells Fargo & Company from $84.00 to $85.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 3.32% from the company’s current price.

A number of other analysts have also recently issued reports on BRO. Jefferies Financial Group cut Brown & Brown from a “buy” rating to a “hold” rating and cut their price objective for the company from $85.00 to $78.00 in a research report on Tuesday, January 9th. The Goldman Sachs Group raised Brown & Brown from a “neutral” rating to a “buy” rating and cut their price objective for the company from $84.00 to $83.00 in a research report on Monday, January 8th. Raymond James raised their price objective on Brown & Brown from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Truist Financial raised their price objective on Brown & Brown from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada raised their price objective on Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and a consensus price target of $87.10.

Brown & Brown Stock Up 0.2 %

BRO stock opened at $82.27 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $84.30 and a two-hundred day moving average price of $77.02. The company has a market cap of $23.47 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 2.49 and a beta of 0.78. Brown & Brown has a twelve month low of $61.71 and a twelve month high of $87.99.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the company earned $0.84 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. Analysts anticipate that Brown & Brown will post 3.57 EPS for the current fiscal year.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of Brown & Brown stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the transaction, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.02% of the company’s stock.

Institutional Investors Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently bought and sold shares of BRO. Norges Bank bought a new stake in Brown & Brown during the 4th quarter worth $217,663,000. Congress Asset Management Co. MA bought a new stake in shares of Brown & Brown in the 4th quarter valued at about $82,445,000. The Manufacturers Life Insurance Company grew its position in shares of Brown & Brown by 76.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,000,227 shares of the financial services provider’s stock valued at $142,236,000 after buying an additional 865,082 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Brown & Brown by 1,861.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 810,359 shares of the financial services provider’s stock valued at $56,595,000 after buying an additional 769,051 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new stake in shares of Brown & Brown in the 1st quarter valued at about $49,598,000. Institutional investors own 71.01% of the company’s stock.

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.