Brown & Brown (NYSE:BRO) Price Target Raised to $138.00 at Truist Financial

Brown & Brown (NYSE:BRO) had its price target hoisted by research analysts at Truist Financial from $118.00 to $138.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective points to a potential upside of 13.93% from the company’s previous close.

BRO has been the topic of a number of other reports. Barclays lifted their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday. Keefe, Bruyette & Woods increased their price objective on shares of Brown & Brown from $97.00 to $102.00 and gave the company an “underperform” rating in a report on Wednesday, April 9th. Bank of America boosted their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. Finally, Royal Bank of Canada upped their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $117.50.

Brown & Brown Stock Performance

Shares of BRO stock traded up $0.23 during trading hours on Tuesday, reaching $121.13. The stock had a trading volume of 351,866 shares, compared to its average volume of 1,426,212. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a 50-day simple moving average of $116.67 and a 200-day simple moving average of $109.76. The firm has a market capitalization of $34.63 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. Brown & Brown has a twelve month low of $80.33 and a twelve month high of $125.68.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. As a group, equities analysts forecast that Brown & Brown will post 4.18 earnings per share for the current year.

Hedge Funds Weigh In On Brown & Brown

Large investors have recently made changes to their positions in the business. Kohmann Bosshard Financial Services LLC purchased a new position in Brown & Brown during the fourth quarter valued at approximately $28,000. Johnson Financial Group Inc. boosted its stake in shares of Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock valued at $29,000 after buying an additional 235 shares during the period. Y.D. More Investments Ltd grew its holdings in shares of Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 162 shares in the last quarter. R Squared Ltd acquired a new position in shares of Brown & Brown in the fourth quarter worth $31,000. Finally, Sunbelt Securities Inc. raised its holdings in shares of Brown & Brown by 581.8% during the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 256 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.