Brown & Brown, Inc. (NYSE:BRO) Receives $89.40 Consensus PT from Analysts

Brown & Brown, Inc. (NYSE:BRO) has been assigned an average recommendation of “Hold” from the ten analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $89.40.

BRO has been the subject of a number of research analyst reports. Bank of America upgraded Brown & Brown from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $91.00 to $101.00 in a report on Wednesday, May 22nd. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company upped their target price on Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Raymond James upped their target price on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Finally, Citigroup upped their target price on Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 31st.

Brown & Brown Stock Down 2.3 %

BRO stock opened at $91.16 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97. Brown & Brown has a fifty-two week low of $65.98 and a fifty-two week high of $93.75. The stock has a market capitalization of $26.00 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 2.44 and a beta of 0.82. The business’s fifty day moving average price is $87.48 and its two-hundred day moving average price is $82.21.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share. On average, equities analysts anticipate that Brown & Brown will post 3.61 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.57%. Brown & Brown’s dividend payout ratio is currently 16.00%.

Insider Buying and Selling

In other news, EVP Julie Turpin sold 3,350 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the sale, the executive vice president now directly owns 23,597 shares in the company, valued at $2,121,842.24. The sale was disclosed in a document filed with the SEC, which is available at this link. 17.02% of the stock is owned by company insiders.

Institutional Trading of Brown & Brown

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fortitude Family Office LLC bought a new stake in Brown & Brown during the 4th quarter valued at $31,000. Headlands Technologies LLC acquired a new stake in shares of Brown & Brown in the 1st quarter worth $32,000. Park Place Capital Corp boosted its position in shares of Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 318 shares in the last quarter. Alaska Permanent Fund Corp acquired a new stake in shares of Brown & Brown in the 1st quarter worth $36,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Brown & Brown by 174.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 348 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

About Brown & Brown

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.