Wells Fargo & Company Forecasts Strong Price Appreciation for Brown & Brown (NYSE:BRO) Stock

Brown & Brown (NYSE:BRO) had its price target upped by analysts at Wells Fargo & Company from $115.00 to $125.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 18.45% from the company’s current price.

Several other analysts have also recently issued reports on BRO. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Morgan Stanley began coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. Bank of America lifted their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday. Keefe, Bruyette & Woods cut their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Finally, Barclays lifted their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Up 2.3 %

Shares of Brown & Brown stock opened at $105.53 on Wednesday. The company has a fifty day moving average price of $105.40 and a 200 day moving average price of $104.09. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown has a twelve month low of $75.79 and a twelve month high of $114.15. The stock has a market cap of $30.18 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. Equities research analysts forecast that Brown & Brown will post 3.74 earnings per share for the current fiscal year.

Institutional Trading of Brown & Brown

Large investors have recently modified their holdings of the company. Studio Investment Management LLC grew its position in Brown & Brown by 1.5% in the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock worth $675,000 after purchasing an additional 96 shares during the last quarter. Journey Strategic Wealth LLC boosted its position in shares of Brown & Brown by 2.3% during the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock worth $458,000 after buying an additional 99 shares during the period. Trust Point Inc. grew its holdings in Brown & Brown by 4.3% in the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after buying an additional 103 shares in the last quarter. CWA Asset Management Group LLC increased its position in Brown & Brown by 3.7% in the 4th quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 103 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in Brown & Brown by 3.4% during the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 103 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.