Brown & Brown, Inc. (NYSE:BRO) Receives $91.70 Consensus Price Target from Analysts

Brown & Brown, Inc. (NYSE:BRO) has received a consensus rating of “Hold” from the ten ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $94.90.

Several analysts have recently commented on BRO shares. Truist Financial increased their price target on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup boosted their price target on Brown & Brown from $94.00 to $100.00 and gave the stock 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 price objective for the company from $91.00 to $101.00 in a research note on Wednesday, May 22nd. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, UBS Group raised their price target on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th.

Insider Transactions at Brown & Brown

In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $89.92, for a total transaction 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 $2,121,842.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 17.02% of the company’s stock.

Institutional Investors Weigh In On Brown & Brown

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in Brown & Brown by 86.9% in the 4th quarter. SG Americas Securities LLC now owns 24,866 shares of the financial services provider’s stock valued at $1,768,000 after purchasing an additional 11,559 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Brown & Brown by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock valued at $23,390,000 after buying an additional 6,613 shares during the period. Patton Fund Management Inc. acquired a new position in Brown & Brown during the 4th quarter worth approximately $4,765,000. Sei Investments Co. boosted its holdings in Brown & Brown by 12.7% in the 1st quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock worth $24,169,000 after acquiring an additional 31,071 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Brown & Brown by 206.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,302 shares of the financial services provider’s stock worth $1,088,000 after acquiring an additional 10,301 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of BRO stock opened at $97.56 on Thursday. The stock has a fifty day moving average price of $90.75 and a 200 day moving average price of $85.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market cap of $27.83 billion, a PE ratio of 30.02, a P/E/G ratio of 2.58 and a beta of 0.82. Brown & Brown has a 1 year low of $66.73 and a 1 year high of $99.08.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.05. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a return on equity of 17.40% and a net margin of 21.95%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. Sell-side analysts forecast that Brown & Brown will post 3.63 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.52 annualized dividend and a dividend yield of 0.53%. Brown & Brown’s dividend payout ratio 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.