Brown & Brown (NYSE:BRO) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Brown & Brown, Inc. (NYSE:BRO) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $102.23 and traded as high as $102.42. Brown & Brown shares last traded at $101.99, with a volume of 1,080,626 shares traded.

Wall Street Analyst Weigh In

BRO has been the subject of several analyst reports. Royal Bank of Canada raised their price target on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Argus began coverage on Brown & Brown in a research note on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price target for the company. Truist Financial lifted their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley started coverage on shares of Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.46.

Brown & Brown Trading Down 0.9 %

The company has a market cap of $29.16 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 2.40 and a beta of 0.84. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $107.40 and its 200 day moving average price is $102.23.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $0.71 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities analysts expect that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.15 dividend. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, November 6th. Brown & Brown’s dividend payout ratio (DPR) is currently 16.35%.

Hedge Funds Weigh In On Brown & Brown

A number of large investors have recently modified their holdings of BRO. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Brown & Brown by 5.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 21,690 shares of the financial services provider’s stock worth $1,939,000 after purchasing an additional 1,088 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in Brown & Brown during the 2nd quarter valued at $339,000. Commonwealth Equity Services LLC lifted its stake in Brown & Brown by 1.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 121,990 shares of the financial services provider’s stock valued at $10,907,000 after acquiring an additional 1,435 shares in the last quarter. Graypoint LLC lifted its stake in Brown & Brown by 7.5% during the 2nd quarter. Graypoint LLC now owns 3,009 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 210 shares in the last quarter. Finally, Confluence Wealth Services Inc. bought a new position in Brown & Brown during the 2nd quarter valued at $235,000. 71.01% of the stock is currently owned by institutional investors.

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.