Brown & Brown (NYSE:BRO) Receives “Equal Weight” Rating from Morgan Stanley

Brown & Brown (NYSE:BRO)‘s stock had its “equal weight” rating restated by stock analysts at Morgan Stanley in a research note issued on Tuesday,Benzinga reports. They currently have a $128.00 price objective on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 5.77% from the stock’s previous close.

A number of other research firms have also weighed in on BRO. Royal Bank of Canada raised their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their target price on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods cut their price target 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, Bank of America raised their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $112.67.

Brown & Brown Stock Up 2.1 %

Shares of NYSE BRO opened at $121.02 on Tuesday. The stock has a fifty day moving average price of $111.92 and a 200 day moving average price of $107.82. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown has a 12-month low of $80.33 and a 12-month high of $121.30. The company has a market cap of $34.60 billion, a P/E ratio of 34.98, a P/E/G ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Research analysts anticipate that Brown & Brown will post 4.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Brown & Brown

Several institutional investors and hedge funds have recently bought and sold shares of the business. 111 Capital bought a new position in shares of Brown & Brown during the fourth quarter valued at approximately $208,000. Wealth Enhancement Advisory Services LLC boosted its position in Brown & Brown by 206.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 42,456 shares of the financial services provider’s stock valued at $4,331,000 after purchasing an additional 28,603 shares during the period. Wood Tarver Financial Group LLC bought a new position in Brown & Brown during the 4th quarter worth $202,000. Siemens Fonds Invest GmbH increased its position in Brown & Brown by 6.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 9,138 shares of the financial services provider’s stock worth $932,000 after buying an additional 567 shares during the period. Finally, Cim LLC lifted its stake in Brown & Brown by 1.1% in the fourth quarter. Cim LLC now owns 14,436 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 159 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Company Profile

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.