Brown & Brown, Inc. (NYSE:BRO) Receives $89.40 Consensus Target Price from Brokerages

Brown & Brown, Inc. (NYSE:BRO) has earned an average rating of “Hold” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $89.40.

BRO has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on shares of Brown & Brown from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Citigroup lifted their price objective on Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $91.00 to $101.00 in a research note on Wednesday, May 22nd. StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Company increased their price objective on shares of Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th.

Insider Activity at Brown & Brown

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 completion of the sale, the executive vice president now owns 23,597 shares of the company’s stock, valued at approximately $2,121,842.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 17.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brown & Brown

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

Brown & Brown Price Performance

Brown & Brown stock opened at $90.16 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $25.72 billion, a P/E ratio of 27.74, a PEG ratio of 2.39 and a beta of 0.82. The business has a 50-day moving average of $87.86 and a 200-day moving average of $82.32. Brown & Brown has a 1 year low of $66.23 and a 1 year high of $93.75.

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

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.52 annualized dividend and a yield of 0.58%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

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.