Brown & Brown (NYSE:BRO) Price Target Raised to $84.00

Brown & Brown (NYSE:BRO) had its price objective increased by research analysts at Mizuho from $81.00 to $84.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Mizuho‘s price objective points to a potential upside of 16.63% from the company’s current price.

BRO has been the topic of several other reports. UBS Group cut their target price on shares of Brown & Brown from $73.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, November 2nd. Citizens Jmp reduced their price target on shares of Brown & Brown from $78.00 to $75.00 and set a “market outperform” rating for the company in a research report on Monday, October 12th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Weiss Ratings raised shares of Brown & Brown from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 22nd. Finally, BMO Capital Markets raised their price target on shares of Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $75.82.

Brown & Brown Trading Up 2.1%

Brown & Brown stock traded up $1.47 during trading hours on Friday, reaching $72.02. 365,522 shares of the company’s stock were exchanged, compared to its average volume of 2,917,621. The firm’s 50 day simple moving average is $66.90 and its 200 day simple moving average is $66.52. Brown & Brown has a twelve month low of $53.81 and a twelve month high of $82.57. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $23.89 billion, a PE ratio of 22.79, a PEG ratio of 2.35 and a beta of 0.52.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 26th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a net margin of 17.63% and a return on equity of 13.29%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts predict that Brown & Brown will post 4.44 earnings per share for the current year.

Institutional Investors Weigh In On Brown & Brown

Large investors have recently made changes to their positions in the business. Westside Investment Management Inc. boosted its holdings in shares of Brown & Brown by 84.7% in the 3rd quarter. Westside Investment Management Inc. now owns 399 shares of the financial services provider’s stock worth $25,000 after buying an additional 183 shares during the last quarter. CX Institutional boosted its stake in Brown & Brown by 3.1% in the third quarter. CX Institutional now owns 6,242 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 189 shares during the last quarter. Gables Capital Management Inc. grew its position in shares of Brown & Brown by 43.4% during the 3rd quarter. Gables Capital Management Inc. now owns 958 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 290 shares during the period. Cetera Investment Advisers grew its position in shares of Brown & Brown by 0.9% during the 1st quarter. Cetera Investment Advisers now owns 36,804 shares of the financial services provider’s stock valued at $2,400,000 after acquiring an additional 311 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in shares of Brown & Brown by 39.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,288 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 364 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

About Brown & Brown

Brown & Brown, Inc. is an insurance brokerage and risk management company that helps businesses, public entities and individuals assess and manage risk. Its services include arranging property and casualty insurance, employee benefits and personal insurance, as well as providing risk management and related services. The company serves clients through retail insurance operations, national insurance programs, wholesale brokerage and insurance-related services. It operates primarily in the United States and also serves clients in international markets.