Brown & Brown (NYSE:BRO) Stock Price Expected to Rise, Bank of America Analyst Says

Brown & Brown (NYSE:BRO) had its target price increased by Bank of America from $116.00 to $117.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price target would indicate a potential upside of 13.18% from the stock’s previous close.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods decreased their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Jefferies Financial Group raised their price target on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Barclays raised their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Royal Bank of Canada raised their price target on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price objective on Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Trading Down 1.6 %

Shares of BRO stock opened at $103.38 on Tuesday. Brown & Brown has a fifty-two week low of $75.79 and a fifty-two week high of $114.15. The stock has a market cap of $29.56 billion, a P/E ratio of 28.17, a P/E/G ratio of 2.12 and a beta of 0.85. The business has a fifty day simple moving average of $105.51 and a 200-day simple moving average of $104.08. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. On average, analysts forecast that Brown & Brown will post 3.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in Brown & Brown in the 3rd quarter valued at approximately $26,000. ST Germain D J Co. Inc. lifted its position in shares of Brown & Brown by 298.5% during the 3rd 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 period. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown during the 3rd quarter worth approximately $29,000. Y.D. More Investments Ltd lifted its position in shares of Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after buying an additional 162 shares during the period. Finally, R Squared Ltd bought a new position in Brown & Brown in the 4th quarter valued at $31,000. Institutional investors and hedge funds 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.