Analysts Set Brown & Brown, Inc. (NYSE:BRO) Target Price at $111.67

Brown & Brown, Inc. (NYSE:BRO) has been given an average rating of “Moderate Buy” by the twelve analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $112.08.

A number of research firms have weighed in on BRO. Wells Fargo & Company upped their target price on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Jefferies Financial Group upped their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Barclays upped 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. Finally, Morgan Stanley initiated coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target on the stock.

Brown & Brown Trading Up 0.6 %

BRO opened at $102.57 on Thursday. The business has a 50 day simple moving average of $106.82 and a two-hundred day simple moving average of $102.84. The firm has a market capitalization of $29.33 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 2.40 and a beta of 0.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. Brown & Brown has a one year low of $73.23 and a one year high of $114.15.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the business earned $0.71 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts predict that Brown & Brown will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.58%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s dividend payout ratio (DPR) is currently 16.35%.

Institutional Trading of Brown & Brown

Institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new stake in Brown & Brown during the 3rd quarter valued at $26,000. ST Germain D J Co. Inc. lifted its holdings in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after buying an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown during the 3rd quarter valued at $29,000. Versant Capital Management Inc lifted its holdings in shares of Brown & Brown by 130.7% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after buying an additional 234 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Brown & Brown during the 3rd quarter valued at $58,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.