Brown & Brown (NYSE:BRO) PT Raised to $95.00 at Raymond James

Brown & Brown (NYSE:BRO) had its price objective upped by investment analysts at Raymond James from $90.00 to $95.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price target would indicate a potential upside of 8.87% from the company’s current price.

A number of other research firms have also recently commented on BRO. Truist Financial boosted their target price on shares of Brown & Brown from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Jefferies Financial Group cut shares of Brown & Brown from a “buy” rating to a “hold” rating and reduced their target price for the stock from $85.00 to $78.00 in a research report on Tuesday, January 9th. Wells Fargo & Company boosted their target price on shares of Brown & Brown from $72.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Bank of America cut shares of Brown & Brown from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $80.00 to $86.00 in a research report on Wednesday, March 13th. Finally, Royal Bank of Canada boosted their target price on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and an average price target of $84.90.

Brown & Brown Price Performance

Brown & Brown stock opened at $87.26 on Tuesday. Brown & Brown has a 1 year low of $55.42 and a 1 year high of $87.42. The firm has a 50 day moving average price of $82.10 and a 200 day moving average price of $75.37. The company has a market cap of $24.94 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.87 and a beta of 0.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. The company had revenue of $1.03 billion during the quarter. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Sell-side analysts predict that Brown & Brown will post 3.29 earnings per share for the current year.

Insider Transactions at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the transaction, the chairman now owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.58% of the company’s stock.

Institutional Investors Weigh In On Brown & Brown

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nomura Holdings Inc. lifted its holdings in Brown & Brown by 1.6% in the 4th quarter. Nomura Holdings Inc. now owns 17,793 shares of the financial services provider’s stock valued at $1,265,000 after acquiring an additional 282 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in Brown & Brown in the 4th quarter valued at about $288,000. Vanguard Group Inc. lifted its holdings in Brown & Brown by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 28,152,200 shares of the financial services provider’s stock valued at $2,001,903,000 after acquiring an additional 266,441 shares during the last quarter. Congress Asset Management Co. MA acquired a new stake in Brown & Brown in the 4th quarter valued at about $82,445,000. Finally, American International Group Inc. lifted its holdings in Brown & Brown by 1.3% in the 4th quarter. American International Group Inc. now owns 64,959 shares of the financial services provider’s stock valued at $4,619,000 after acquiring an additional 831 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.