Brown & Brown (NYSE:BRO) Given New $116.00 Price Target at Truist Financial

Brown & Brown (NYSE:BRO) had its target price lifted by research analysts at Truist Financial from $112.00 to $116.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 9.05% from the company’s current price.

Several other research firms have also commented on BRO. Barclays assumed coverage on Brown & Brown in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price target on the stock. Bank of America lifted their target price 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. Keefe, Bruyette & Woods increased their price target on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada upped their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.67.

Brown & Brown Stock Up 0.5 %

Shares of NYSE BRO traded up $0.51 during mid-day trading on Wednesday, reaching $106.37. The company had a trading volume of 72,080 shares, compared to its average volume of 1,295,833. The firm has a 50 day simple moving average of $103.17 and a two-hundred day simple moving average of $94.12. Brown & Brown has a 52-week low of $66.73 and a 52-week high of $107.67. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. The stock has a market cap of $30.34 billion, a P/E ratio of 32.73, a PEG ratio of 2.45 and a beta of 0.83.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.05. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company posted $0.68 earnings per share. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. Sell-side analysts predict that Brown & Brown will post 3.69 earnings per share for the current year.

Insider Activity

In related news, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The disclosure for this sale can be found here. Insiders own 17.02% of the company’s stock.

Institutional Trading of Brown & Brown

Several large investors have recently bought and sold shares of BRO. Oregon Public Employees Retirement Fund boosted its position in shares of Brown & Brown by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after buying an additional 100 shares in the last quarter. Creative Planning lifted its holdings in shares of Brown & Brown by 0.4% in the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after purchasing an additional 112 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Brown & Brown by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock valued at $2,243,000 after purchasing an additional 125 shares during the last quarter. Anchor Investment Management LLC increased its stake in shares of Brown & Brown by 4.0% during the 2nd quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 125 shares in the last quarter. Finally, Copperwynd Financial LLC increased its stake in shares of Brown & Brown by 4.8% during the 2nd quarter. Copperwynd Financial LLC now owns 2,772 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Company Profile

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.