Brown & Brown (NYSE:BRO) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Brown & Brown (NYSE:BRO) had its price target upped by investment analysts at Wells Fargo & Company from $115.00 to $125.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 18.45% from the stock’s current price.

A number of other analysts have also recently weighed in on BRO. Keefe, Bruyette & Woods reduced their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Morgan Stanley began coverage on Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. Truist Financial upped their target price on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Royal Bank of Canada upped their price objective on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown presently has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Trading Up 2.3 %

Shares of Brown & Brown stock opened at $105.53 on Wednesday. The business has a fifty day simple moving average of $105.40 and a 200-day simple moving average of $104.09. Brown & Brown has a fifty-two week low of $75.79 and a fifty-two week high of $114.15. The firm has a market cap of $30.18 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. 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 results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. On average, equities analysts forecast that Brown & Brown will post 3.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Brown & Brown

A number of hedge funds have recently modified their holdings of the stock. Studio Investment Management LLC boosted its position in Brown & Brown by 1.5% during the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 96 shares during the last quarter. Journey Strategic Wealth LLC grew its stake in shares of Brown & Brown by 2.3% in the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $458,000 after buying an additional 99 shares in the last quarter. Trust Point Inc. increased its holdings in Brown & Brown by 4.3% in the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after buying an additional 103 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in Brown & Brown by 3.7% in the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock worth $297,000 after buying an additional 103 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in Brown & Brown by 3.4% during the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 103 shares in the last quarter. 71.01% of the stock is 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.