Barclays PLC Boosts Brown & Brown Inc. (BRO) Price Target to $33.00
Brown & Brown Inc. (NYSE:BRO) had its target price raised by investment analysts at Barclays PLC from $31.00 to $33.00 in a report released on Friday. The brokerage presently has an “underweight” rating on the stock. Barclays PLC’s target price points to a potential downside of 11.48% from the stock’s current price.
BRO has been the subject of several other reports. Zacks Investment Research raised Brown & Brown from a “sell” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Tuesday, June 28th. RBC Capital Markets reissued a “sector perform” rating and set a $37.00 target price (up from $35.00) on shares of Brown & Brown in a research note on Wednesday, July 20th. Compass Point boosted their target price on Brown & Brown from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 20th. Royal Bank Of Canada boosted their target price on Brown & Brown from $35.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 20th. Finally, BMO Capital Markets set a $38.00 target price on Brown & Brown and gave the stock a “hold” rating in a research note on Wednesday, July 20th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $35.18.
Brown & Brown (NYSE:BRO) traded up 0.62% during midday trading on Friday, reaching $37.51. The company’s stock had a trading volume of 66,328 shares. The stock’s 50-day moving average price is $37.15 and its 200 day moving average price is $36.15. The firm has a market capitalization of $5.24 billion, a PE ratio of 20.96 and a beta of 1.04. Brown & Brown has a 1-year low of $28.41 and a 1-year high of $38.11.
Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 18th. The company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Brown & Brown had a return on equity of 11.68% and a net margin of 14.87%. The firm earned $446.50 million during the quarter, compared to analysts’ expectations of $439.70 million. During the same period in the previous year, the firm posted $0.43 EPS. Equities analysts anticipate that Brown & Brown will post $1.81 EPS for the current fiscal year.
In other news, EVP Robert W. Lloyd sold 2,971 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $37.32, for a total value of $110,877.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.49% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of BRO. Findlay Park Partners LLP increased its stake in Brown & Brown by 73.7% in the first quarter. Findlay Park Partners LLP now owns 4,033,036 shares of the company’s stock valued at $144,383,000 after buying an additional 1,711,741 shares during the last quarter. Norges Bank bought a new stake in Brown & Brown during the fourth quarter valued at approximately $42,506,000. Thompson Siegel & Walmsley LLC bought a new stake in Brown & Brown during the second quarter valued at approximately $31,155,000. Vanguard Group Inc. increased its stake in Brown & Brown by 3.9% in the second quarter. Vanguard Group Inc. now owns 9,449,167 shares of the company’s stock valued at $354,061,000 after buying an additional 354,704 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Brown & Brown by 320.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 432,391 shares of the company’s stock valued at $16,202,000 after buying an additional 329,648 shares in the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.
About Brown & Brown
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services in the property, casualty and employee benefits areas. It provides customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.
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