Brown & Brown (NYSE:BRO) Price Target Lowered to $78.00 at Wells Fargo & Company

Brown & Brown (NYSE:BRO) had its target price cut by analysts at Wells Fargo & Company from $82.00 to $78.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 13.71% from the company’s current price.

BRO has been the subject of a number of other reports. Barclays decreased their price objective on shares of Brown & Brown from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Tuesday, January 27th. Truist Financial lowered their price target on Brown & Brown from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Argus upgraded Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. Wolfe Research began coverage on Brown & Brown in a research report on Thursday, November 20th. They issued a “peer perform” rating for the company. Finally, BMO Capital Markets reduced their price target on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating for the company in a research note on Thursday, January 29th. Three analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.36.

Brown & Brown Trading Up 2.4%

Brown & Brown stock opened at $68.60 on Friday. Brown & Brown has a 12 month low of $65.68 and a 12 month high of $125.68. The company has a market capitalization of $23.42 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 2.02 and a beta of 0.79. The business’s fifty day simple moving average is $77.58 and its two-hundred day simple moving average is $85.34. The company has a current ratio of 1.67, a quick ratio of 2.10 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate 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 net margin of 17.84% and a return on equity of 12.93%. Brown & Brown’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. As a group, equities analysts predict that Brown & Brown will post 4.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brown & Brown

Institutional investors have recently bought and sold shares of the stock. Darwin Wealth Management LLC purchased a new stake in Brown & Brown in the second quarter worth about $30,000. Cornerstone Planning Group LLC increased its holdings in Brown & Brown by 423.1% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 220 shares in the last quarter. Motco purchased a new position in Brown & Brown during the second quarter valued at approximately $32,000. Basepoint Wealth LLC bought a new position in shares of Brown & Brown in the fourth quarter worth approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Brown & Brown in the second quarter worth $49,000. 71.01% of the stock is owned by institutional investors.

About Brown & Brown

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.