Truist Financial Increases Brown & Brown (NYSE:BRO) Price Target to $112.00

Brown & Brown (NYSE:BRO) had its price target lifted by Truist Financial from $104.00 to $112.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target suggests a potential upside of 14.95% from the stock’s previous close.

BRO has been the topic of a number of other reports. Citigroup boosted their target price on shares of Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $91.00 to $101.00 in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods lifted their target price on Brown & Brown from $80.00 to $82.00 and gave the stock an “underperform” rating in a research report on Friday, May 3rd. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company raised their price objective on Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $96.40.

Brown & Brown Stock Down 0.1 %

Shares of NYSE BRO opened at $97.43 on Wednesday. The stock has a fifty day moving average price of $90.93 and a 200 day moving average price of $85.17. The company has a market cap of $27.79 billion, a P/E ratio of 29.98, a P/E/G ratio of 2.36 and a beta of 0.82. Brown & Brown has a 12-month low of $66.73 and a 12-month high of $99.08. The company has a current ratio of 2.35, a quick ratio of 1.97 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.88 by $0.05. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. Research analysts anticipate that Brown & Brown will post 3.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction on Friday, June 7th. The shares were 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 of the company’s stock, valued at $2,121,842.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brown & Brown

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Brown & Brown by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 28,355,305 shares of the financial services provider’s stock worth $2,482,223,000 after purchasing an additional 203,105 shares during the period. Principal Financial Group Inc. grew its stake in Brown & Brown by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 12,718,155 shares of the financial services provider’s stock worth $1,113,347,000 after buying an additional 392,250 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Brown & Brown by 0.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,236,392 shares of the financial services provider’s stock worth $372,360,000 after buying an additional 29,514 shares during the period. Norges Bank bought a new stake in Brown & Brown in the fourth quarter valued at $217,663,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Brown & Brown by 76.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,000,227 shares of the financial services provider’s stock valued at $142,236,000 after acquiring an additional 865,082 shares during the period. Institutional investors own 71.01% of the company’s stock.

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.