Brown & Brown, Inc. (NYSE:BRO) Receives $90.64 Average PT from Analysts

Brown & Brown, Inc. (NYSE:BRO) has been given an average rating of “Hold” by the eighteen research firms that are currently covering the firm, Marketbeat.com reports. Fifteen analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $90.3571.

BRO has been the topic of several research analyst reports. Jefferies Financial Group lowered their price target on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Argus raised Brown & Brown to a “hold” rating in a research report on Tuesday, January 27th. Keefe, Bruyette & Woods upgraded Brown & Brown from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from $80.00 to $73.00 in a research note on Thursday, January 29th. Truist Financial reduced their price target on Brown & Brown from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Finally, Mizuho decreased their price objective on Brown & Brown from $90.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, January 28th.

Brown & Brown Trading Down 0.3%

Shares of Brown & Brown stock opened at $69.46 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. The business has a fifty day simple moving average of $76.65 and a two-hundred day simple moving average of $84.46. Brown & Brown has a 1 year low of $65.68 and a 1 year high of $125.68. The company has a market capitalization of $23.65 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 2.11 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The company’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 earnings per share. Research analysts forecast that Brown & Brown will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were paid a $0.165 dividend. The ex-dividend date was Wednesday, February 4th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio is 20.63%.

Institutional Trading of Brown & Brown

Several hedge funds and other institutional investors have recently bought and sold shares of BRO. Capital World Investors increased its stake in Brown & Brown by 81.1% in the third quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider’s stock valued at $1,639,392,000 after acquiring an additional 7,827,992 shares during the last quarter. Norges Bank acquired a new stake in shares of Brown & Brown in the 4th quarter valued at $516,837,000. Vanguard Group Inc. boosted its holdings in shares of Brown & Brown by 16.8% in the 2nd quarter. Vanguard Group Inc. now owns 35,625,322 shares of the financial services provider’s stock valued at $3,949,779,000 after purchasing an additional 5,124,203 shares in the last quarter. Capital International Investors bought a new position in shares of Brown & Brown in the 4th quarter valued at $371,654,000. Finally, Van Lanschot Kempen Investment Management N.V. raised its holdings in shares of Brown & Brown by 132.8% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,538,584 shares of the financial services provider’s stock worth $361,725,000 after buying an additional 2,589,048 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.