Mizuho Issues Positive Forecast for Brown & Brown (NYSE:BRO) Stock Price

Brown & Brown (NYSE:BRO) had its price objective raised by investment analysts at Mizuho from $81.00 to $86.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price target indicates a potential upside of 14.06% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Citizens Jmp increased their target price on shares of Brown & Brown from $70.00 to $78.00 and gave the stock a “market outperform” rating in a research report on Friday, July 10th. Jefferies Financial Group reissued a “hold” rating on shares of Brown & Brown in a research report on Wednesday. BMO Capital Markets boosted their price target on Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their price target on shares of Brown & Brown from $72.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada cut their price objective on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating for the company in a report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and an average price target of $79.06.

Brown & Brown Price Performance

Shares of NYSE BRO traded up $1.75 during trading on Wednesday, hitting $75.40. The company had a trading volume of 734,707 shares, compared to its average volume of 3,245,329. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market cap of $25.56 billion, a P/E ratio of 23.72, a PEG ratio of 3.22 and a beta of 0.60. The business’s 50-day moving average is $62.81 and its 200 day moving average is $66.54. Brown & Brown has a 52 week low of $53.81 and a 52 week high of $98.30.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.19%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The firm’s revenue was up 30.4% compared to the same quarter last year. Equities research analysts predict that Brown & Brown will post 4.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Brown & Brown news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were bought at an average price of $57.10 per share, with a total value of $114,200.00. Following the completion of the transaction, the director directly owned 47,621 shares in the company, valued at $2,719,159.10. This trade represents a 4.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On Brown & Brown

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Brown & Brown by 38.3% during the 1st quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock worth $4,132,000 after purchasing an additional 9,264 shares during the last quarter. Focus Partners Wealth raised its position in Brown & Brown by 5.2% during the first quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock worth $1,387,000 after acquiring an additional 547 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Brown & Brown by 1,824.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 53,103 shares of the financial services provider’s stock valued at $5,888,000 after acquiring an additional 50,344 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Brown & Brown by 27.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 223 shares during the period. Finally, Cary Street Partners Financial LLC grew its position in shares of Brown & Brown by 60.9% in the 2nd quarter. Cary Street Partners Financial LLC now owns 933 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 353 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.