Truist Financial Issues Pessimistic Forecast for Brown & Brown (NYSE:BRO) Stock Price

Brown & Brown (NYSE:BRO) had its price objective reduced by Truist Financial from $114.00 to $105.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 32.27% from the company’s current price.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. began coverage on shares of Brown & Brown in a research note on Thursday, December 18th. They set a “neutral” rating and a $91.00 target price for the company. Barclays dropped their price target on Brown & Brown from $84.00 to $83.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Wall Street Zen raised Brown & Brown from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Wells Fargo & Company decreased their target price on Brown & Brown from $92.00 to $84.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Citigroup downgraded Brown & Brown from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $98.67.

Brown & Brown Stock Up 0.4%

BRO opened at $79.38 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market capitalization of $27.10 billion, a PE ratio of 23.77, a P/E/G ratio of 1.76 and a beta of 0.81. The stock’s fifty day moving average is $79.87 and its 200-day moving average is $89.87. Brown & Brown has a one year low of $76.17 and a one year high of $125.68.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.15. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.The company’s quarterly revenue was up 35.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. On average, equities analysts predict that Brown & Brown will post 4.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Brown & Brown

Hedge funds have recently bought and sold shares of the business. ST Germain D J Co. Inc. increased its holdings in shares of Brown & Brown by 298.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Brown & Brown during the second quarter worth approximately $30,000. Cornerstone Planning Group LLC grew its position in Brown & Brown by 423.1% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Motco acquired a new position in Brown & Brown in the 2nd quarter valued at approximately $32,000. Finally, Bruce G. Allen Investments LLC lifted its position in Brown & Brown by 1,129.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 332 shares of the financial services provider’s stock worth $37,000 after buying an additional 305 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.