Jefferies Financial Group Forecasts Strong Price Appreciation for Brown & Brown (NYSE:BRO) Stock

Brown & Brown (NYSE:BRO) had its price target upped by research analysts at Jefferies Financial Group from $105.00 to $109.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price target suggests a potential downside of 7.90% from the stock’s current price.

BRO has been the subject of a number of other reports. Royal Bank of Canada increased their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Bank of America boosted their target price on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. UBS Group increased their price target on Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price objective on Brown & Brown from $97.00 to $102.00 and gave the stock an “underperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Brown & Brown presently has a consensus rating of “Hold” and an average price target of $115.67.

Brown & Brown Stock Up 0.9 %

Brown & Brown stock traded up $1.08 during midday trading on Friday, hitting $118.34. 768,806 shares of the stock were exchanged, compared to its average volume of 1,423,233. Brown & Brown has a 52-week low of $80.33 and a 52-week high of $125.68. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $116.13 and its 200-day moving average price is $109.48. The stock has a market capitalization of $33.84 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping 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%. On average, research analysts expect that Brown & Brown will post 4.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BRO. Radnor Capital Management LLC increased its stake in Brown & Brown by 5.3% in the 1st quarter. Radnor Capital Management LLC now owns 5,990 shares of the financial services provider’s stock worth $745,000 after acquiring an additional 300 shares during the last quarter. Impact Capital Partners LLC purchased a new position in shares of Brown & Brown during the first quarter worth about $238,000. Tower Wealth Partners Inc. increased its position in shares of Brown & Brown by 19.8% in the first quarter. Tower Wealth Partners Inc. now owns 2,356 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 389 shares during the last quarter. Procyon Advisors LLC raised its stake in Brown & Brown by 2.8% in the first quarter. Procyon Advisors LLC now owns 23,404 shares of the financial services provider’s stock valued at $2,911,000 after purchasing an additional 632 shares in the last quarter. Finally, Unique Wealth LLC lifted its position in Brown & Brown by 47.2% during the first quarter. Unique Wealth LLC now owns 5,166 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 1,657 shares during the last quarter. Institutional investors 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.