Brown & Brown (NYSE:BRO) Given New $94.00 Price Target at Truist Financial

Brown & Brown (NYSE:BRO) had its price objective upped by Truist Financial from $92.00 to $94.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 13.35% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. UBS Group raised their price objective on shares of Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. The Goldman Sachs Group upgraded shares of Brown & Brown from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $84.00 to $83.00 in a research note on Monday, January 8th. Raymond James raised their price objective on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods raised their price objective on shares of Brown & Brown from $75.00 to $80.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company raised their price objective on shares of Brown & Brown from $81.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $87.00.

Brown & Brown Trading Up 0.5 %

NYSE:BRO opened at $82.93 on Wednesday. Brown & Brown has a 12 month low of $60.00 and a 12 month high of $87.99. The firm has a market cap of $23.66 billion, a price-to-earnings ratio of 25.52, a P/E/G ratio of 2.48 and a beta of 0.78. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $84.26 and its 200-day moving average is $76.90.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.82%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities analysts anticipate that Brown & Brown will post 3.55 EPS for the current 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 transaction 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 $3,220,113,605.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 16.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in shares of Brown & Brown by 86.9% in the fourth quarter. SG Americas Securities LLC now owns 24,866 shares of the financial services provider’s stock valued at $1,768,000 after buying an additional 11,559 shares during the last quarter. Patton Fund Management Inc. bought a new position in shares of Brown & Brown in the fourth quarter valued at about $4,765,000. Whittier Trust Co. raised its holdings in shares of Brown & Brown by 12.1% in the fourth quarter. Whittier Trust Co. now owns 162,226 shares of the financial services provider’s stock valued at $11,536,000 after buying an additional 17,479 shares during the last quarter. WCM Investment Management LLC raised its holdings in shares of Brown & Brown by 13.4% in the fourth quarter. WCM Investment Management LLC now owns 107,979 shares of the financial services provider’s stock valued at $7,658,000 after buying an additional 12,748 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of Brown & Brown by 28.7% in the third quarter. Toronto Dominion Bank now owns 277,331 shares of the financial services provider’s stock valued at $19,369,000 after buying an additional 61,800 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

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.