UBS Group Issues Pessimistic Forecast for Brown & Brown (NYSE:BRO) Stock Price

Brown & Brown (NYSE:BRO) had its target price dropped by research analysts at UBS Group from $120.00 to $106.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price target points to a potential upside of 10.98% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Barclays reduced their price objective on shares of Brown & Brown from $108.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Citigroup initiated coverage on shares of Brown & Brown in a research report on Wednesday, August 13th. They set a “buy” rating and a $112.00 price target on the stock. Truist Financial set a $120.00 price objective on Brown & Brown in a report on Wednesday, July 30th. Wall Street Zen upgraded Brown & Brown from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Finally, Morgan Stanley decreased their target price on Brown & Brown from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $109.92.

Brown & Brown Trading Down 0.5%

Shares of BRO opened at $95.51 on Wednesday. Brown & Brown has a one year low of $89.99 and a one year high of $125.68. The stock has a 50-day moving average price of $94.26 and a 200 day moving average price of $105.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.72 and a current ratio of 6.72. The company has a market capitalization of $31.50 billion, a P/E ratio of 27.52, a P/E/G ratio of 2.17 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Brown & Brown had a return on equity of 15.10% and a net margin of 19.89%.Brown & Brown’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 EPS. Sell-side analysts forecast that Brown & Brown will post 4.18 EPS for the current fiscal year.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Director Paul J. Krump purchased 2,678 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $93.31 per share, with a total value of $249,884.18. Following the completion of the acquisition, the director owned 5,353 shares of the company’s stock, valued at approximately $499,488.43. This trade represents a 100.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bronislaw Edmund Masojada acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average price of $91.44 per share, for a total transaction of $91,440.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $457,200. This represents a 25.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 17.02% of the company’s stock.

Hedge Funds Weigh In On Brown & Brown

Several hedge funds have recently modified their holdings of BRO. Vanguard Group Inc. lifted its holdings in shares of Brown & Brown by 16.8% in the second quarter. Vanguard Group Inc. now owns 35,625,322 shares of the financial services provider’s stock valued at $3,949,779,000 after buying an additional 5,124,203 shares during the period. Principal Financial Group Inc. lifted its holdings in Brown & Brown by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 12,940,046 shares of the financial services provider’s stock valued at $1,609,742,000 after acquiring an additional 38,078 shares during the last quarter. State Street Corp boosted its position in shares of Brown & Brown by 11.3% during the 2nd quarter. State Street Corp now owns 12,460,821 shares of the financial services provider’s stock valued at $1,381,531,000 after purchasing an additional 1,262,139 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Brown & Brown by 16.6% in the 2nd quarter. Geode Capital Management LLC now owns 7,369,576 shares of the financial services provider’s stock worth $813,624,000 after purchasing an additional 1,050,350 shares during the last quarter. Finally, Parnassus Investments LLC bought a new stake in shares of Brown & Brown in the 1st quarter worth approximately $899,139,000. 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.