Brown & Brown (NYSE:BRO) Price Target Lowered to $72.00 at Barclays

Brown & Brown (NYSE:BRO) had its price objective cut by equities researchers at Barclays from $80.00 to $72.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective indicates a potential upside of 6.79% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Brown & Brown in a research report on Monday, December 29th. Truist Financial cut their target price on shares of Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. UBS Group reaffirmed a “neutral” rating and issued a $81.00 price target (down from $90.00) on shares of Brown & Brown in a report on Thursday, January 29th. Wells Fargo & Company lowered their price target on shares of Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Friday, February 13th. Finally, Morgan Stanley dropped their price objective on shares of Brown & Brown from $76.00 to $70.00 and set an “equal weight” rating for the company in a research note on Monday. Four analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and an average price target of $85.27.

Brown & Brown Price Performance

NYSE BRO traded up $1.05 during mid-day trading on Wednesday, hitting $67.42. The stock had a trading volume of 551,149 shares, compared to its average volume of 3,420,917. The company has a 50 day simple moving average of $69.00 and a 200 day simple moving average of $78.23. The company has a market cap of $22.95 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 1.66 and a beta of 0.83. Brown & Brown has a 52-week low of $63.29 and a 52-week high of $121.70. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.Brown & Brown’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. Equities analysts forecast that Brown & Brown will post 4.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Brown & Brown

Institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC grew its stake in Brown & Brown by 3.7% in the 4th quarter. Hsbc Holdings PLC now owns 610,737 shares of the financial services provider’s stock worth $48,744,000 after acquiring an additional 21,643 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Brown & Brown by 163.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 62,498 shares of the financial services provider’s stock worth $4,981,000 after purchasing an additional 38,732 shares during the period. World Investment Advisors boosted its holdings in shares of Brown & Brown by 24.5% during the fourth quarter. World Investment Advisors now owns 3,994 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 785 shares during the last quarter. AG Campbell Advisory LLC acquired a new stake in shares of Brown & Brown during the fourth quarter worth $1,732,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Brown & Brown by 352.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,690 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 2,875 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.