Brown & Brown (NYSE:BRO) Price Target Raised to $95.00

Brown & Brown (NYSE:BRO) had its price objective hoisted by Raymond James from $90.00 to $95.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

BRO has been the subject of a number of other research reports. Truist Financial upped their price target on Brown & Brown from $85.00 to $92.00 and gave the stock a buy rating in a research report on Wednesday, January 24th. StockNews.com raised shares of Brown & Brown from a hold rating to a buy rating in a research note on Sunday, March 17th. Keefe, Bruyette & Woods boosted their target price on shares of Brown & Brown from $70.00 to $75.00 and gave the stock an underperform rating in a report on Friday, January 26th. UBS Group lifted their price objective on Brown & Brown from $75.00 to $81.00 and gave the stock a neutral rating in a research note on Monday, January 29th. Finally, Bank of America downgraded Brown & Brown from a neutral rating to an underperform rating and boosted their price objective for the company from $80.00 to $86.00 in a research note on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $84.90.

Brown & Brown Price Performance

Shares of BRO stock opened at $87.54 on Tuesday. Brown & Brown has a 52 week low of $55.99 and a 52 week high of $87.99. The stock has a market capitalization of $24.98 billion, a PE ratio of 28.61, a PEG ratio of 2.89 and a beta of 0.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95. The stock’s fifty day moving average is $82.37 and its 200-day moving average is $75.46.

Brown & Brown (NYSE:BRO) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. The company had revenue of $1.03 billion during the quarter. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. During the same quarter in the previous year, the firm posted $0.50 EPS. Equities research analysts expect that Brown & Brown will post 3.29 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.52 annualized dividend and a dividend yield of 0.59%. Brown & Brown’s payout ratio is 16.99%.

Insider Activity at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the sale, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clear Street Markets LLC lifted its stake in Brown & Brown by 93.7% in the first quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 223 shares during the last quarter. First Capital Advisors Group LLC. purchased a new position in shares of Brown & Brown during the 2nd quarter valued at $26,000. West Tower Group LLC bought a new position in shares of Brown & Brown during the 2nd quarter worth $27,000. Fortitude Family Office LLC purchased a new stake in Brown & Brown in the 4th quarter worth about $31,000. Finally, Park Place Capital Corp raised its stake in Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 318 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.