Brown & Brown (NYSE:BRO) Stock Gets Price Target Reduction from UBS Group

Brown & Brown (NYSE:BRO) had its price target lowered by UBS Group from $73.00 to $72.00 in a research note issued to investors on Monday,Benzinga reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Royal Bank Of Canada reissued a “sector perform” rating on shares of Brown & Brown in a research note on Wednesday, July 29th. Citizens Jmp reduced their price target on Brown & Brown from $78.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Monday, October 12th. Keefe, Bruyette & Woods raised Brown & Brown from an “underperform” rating to an “outperform” rating and set a $77.00 price target on the stock in a research note on Monday, October 12th. Weiss Ratings raised Brown & Brown from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 22nd. Finally, BMO Capital Markets boosted their price objective on Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $75.47.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $73.96 on Monday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.58. The stock has a market cap of $24.53 billion, a PE ratio of 15.90, a PEG ratio of 2.32 and a beta of 0.52. The company’s fifty day moving average is $66.95 and its 200 day moving average is $66.74. Brown & Brown has a 52 week low of $53.81 and a 52 week high of $82.57.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a net margin of 17.63% and a return on equity of 13.29%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Research analysts anticipate that Brown & Brown will post 4.47 earnings per share for the current year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 11th. Investors of record on Wednesday, November 4th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.0%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.1650. The ex-dividend date is Wednesday, November 4th. Brown & Brown’s dividend payout ratio (DPR) is presently 20.89%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Equitable Trust Co. grew its stake in shares of Brown & Brown by 1.7% in the first quarter. Equitable Trust Co. now owns 10,901 shares of the financial services provider’s stock worth $711,000 after acquiring an additional 182 shares during the period. Westside Investment Management Inc. raised its holdings in shares of Brown & Brown by 84.7% during the third quarter. Westside Investment Management Inc. now owns 399 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 183 shares during the last quarter. CX Institutional raised its holdings in shares of Brown & Brown by 3.1% during the third quarter. CX Institutional now owns 6,242 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 189 shares during the last quarter. Gables Capital Management Inc. raised its holdings in shares of Brown & Brown by 43.4% during the third quarter. Gables Capital Management Inc. now owns 958 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 290 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in Brown & Brown by 0.9% during the first quarter. Cetera Investment Advisers now owns 36,804 shares of the financial services provider’s stock valued at $2,400,000 after purchasing an additional 311 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance brokerage and risk management company headquartered in Daytona Beach, Florida. The company helps businesses, public entities, individuals and other organizations identify, manage and transfer risk by arranging insurance coverage and providing related advisory services.

Its operations include retail insurance brokerage, national programs, wholesale brokerage and services. Brown & Brown offers property and casualty insurance, employee benefits, personal insurance, surety and other specialized coverage.