Brown & Brown (NYSE:BRO) PT Raised to $104.00 at Truist Financial

Brown & Brown (NYSE:BROGet Free Report) had its target price boosted by research analysts at Truist Financial from $94.00 to $104.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 15.30% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Citigroup upped their price target on Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Wells Fargo & Company upped their price target on shares of Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $91.00 to $101.00 in a report on Wednesday, May 22nd. Finally, UBS Group raised their price target on shares of Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $91.70.

Check Out Our Latest Report on BRO

Brown & Brown Stock Up 0.1 %

Shares of BRO traded up $0.12 on Wednesday, reaching $90.20. The stock had a trading volume of 89,555 shares, compared to its average volume of 1,256,685. Brown & Brown has a 12-month low of $66.73 and a 12-month high of $93.75. The firm has a market capitalization of $25.73 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.38 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. The company has a 50-day simple moving average of $89.12 and a 200-day simple moving average of $83.48.

Brown & Brown (NYSE:BROGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the business earned $0.84 EPS. Brown & Brown’s quarterly revenue was up 12.7% compared to the same quarter last year. Sell-side analysts predict that Brown & Brown will post 3.61 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the transaction, the executive vice president now owns 23,597 shares in the company, valued at approximately $2,121,842.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 16.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Brown & Brown

A number of institutional investors and hedge funds have recently modified their holdings of BRO. Mather Group LLC. lifted its position in shares of Brown & Brown by 15.8% during the second quarter. Mather Group LLC. now owns 2,461 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 335 shares during the last quarter. Insight Wealth Strategies LLC increased its stake in Brown & Brown by 1.2% in the 2nd quarter. Insight Wealth Strategies LLC now owns 27,893 shares of the financial services provider’s stock worth $2,494,000 after buying an additional 322 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Brown & Brown during the 2nd quarter valued at about $1,738,000. DNB Asset Management AS boosted its position in Brown & Brown by 7.6% in the 2nd quarter. DNB Asset Management AS now owns 41,976 shares of the financial services provider’s stock valued at $3,753,000 after buying an additional 2,965 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in Brown & Brown by 28.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 916 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 201 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Company Profile

(Get Free Report)

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.

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