Keefe, Bruyette & Woods Cuts Brown & Brown (NYSE:BRO) Price Target to $97.00

Brown & Brown (NYSE:BRO) had its target price cut by research analysts at Keefe, Bruyette & Woods from $99.00 to $97.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential downside of 4.98% from the stock’s previous close.

Several other equities research analysts have also commented on the company. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Truist Financial lifted their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Argus initiated coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price on the stock. Wells Fargo & Company raised their price target on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Bank of America upped their price objective on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $112.08.

Brown & Brown Stock Down 0.4 %

Shares of BRO opened at $102.08 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown has a 12 month low of $72.19 and a 12 month high of $114.15. The stock has a market capitalization of $29.19 billion, a PE ratio of 27.81, a P/E/G ratio of 2.40 and a beta of 0.85. The firm’s 50 day moving average is $106.82 and its 200-day moving average is $102.68.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. Brown & Brown’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. Equities research analysts forecast that Brown & Brown will post 3.74 EPS for the current year.

Hedge Funds Weigh In On Brown & Brown

Several institutional investors have recently added to or reduced their stakes in BRO. Brooklyn Investment Group purchased a new position in Brown & Brown in the third quarter valued at about $26,000. ST Germain D J Co. Inc. increased its position in Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown in the third quarter valued at $29,000. Versant Capital Management Inc grew its stake in shares of Brown & Brown by 130.7% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 234 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Brown & Brown in the 3rd quarter worth about $58,000. Institutional investors own 71.01% of the company’s stock.

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.