Brown & Brown (NYSE:BRO) Stock Price Expected to Rise, Barclays Analyst Says

Brown & Brown (NYSE:BRO) had its price objective raised by Barclays from $108.00 to $119.00 in a research note released on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on BRO. Keefe, Bruyette & Woods lifted their target price on shares of Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Truist Financial lifted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Brown & Brown from $112.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Raymond James boosted their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Brown & Brown has an average rating of “Hold” and a consensus price target of $107.42.

Brown & Brown Trading Up 1.2 %

Shares of BRO opened at $112.05 on Thursday. The firm’s 50-day moving average price is $106.16 and its 200-day moving average price is $98.92. The firm has a market capitalization of $32.04 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.55 and a beta of 0.82. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. Brown & Brown has a 1-year low of $69.13 and a 1-year high of $114.08.

Brown & Brown (NYSE:BRO) last posted 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Brown & Brown’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts anticipate that Brown & Brown will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a $0.15 dividend. This is a positive change 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 0.54%. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s dividend payout ratio is presently 16.35%.

Insiders Place Their Bets

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 17.02% of the company’s stock.

Institutional Investors Weigh In On Brown & Brown

Several hedge funds and other institutional investors have recently made changes to their positions in BRO. Brooklyn Investment Group bought a new position in Brown & Brown during the 3rd quarter worth about $26,000. ST Germain D J Co. Inc. boosted its holdings in shares of Brown & Brown by 298.5% in 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 in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown in the 3rd quarter valued at about $29,000. Crewe Advisors LLC boosted its holdings in shares of Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after buying an additional 228 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Brown & Brown by 65.7% in the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Company Profile

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.