Brown & Brown (NYSE:BRO) PT Raised to $92.00 at Keefe, Bruyette & Woods

Brown & Brown (NYSE:BRO) had its target price lifted by Keefe, Bruyette & Woods from $86.00 to $92.00 in a research report sent to investors on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the financial services provider’s stock.

Several other research firms also recently weighed in on BRO. Royal Bank of Canada increased their price target on Brown & Brown from $95.00 to $110.00 and gave the stock an outperform rating in a research note on Wednesday, July 24th. Citigroup increased their price target on Brown & Brown from $94.00 to $100.00 and gave the stock a buy rating in a research note on Friday, May 31st. UBS Group increased their price target on Brown & Brown from $91.00 to $94.00 and gave the stock a neutral rating in a research note on Tuesday, July 9th. Raymond James raised their target price on Brown & Brown from $95.00 to $110.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company raised their target price on Brown & Brown from $88.00 to $94.00 and gave the stock an equal weight rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $97.40.

Brown & Brown Trading Down 0.5 %

Shares of Brown & Brown stock opened at $98.66 on Friday. Brown & Brown has a 1 year low of $66.73 and a 1 year high of $99.92. The firm has a market cap of $28.14 billion, a PE ratio of 30.36, a P/E/G ratio of 2.47 and a beta of 0.82. The stock has a fifty day moving average price of $91.28 and a 200-day moving average price of $85.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 2.35.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. Equities research analysts anticipate that Brown & Brown will post 3.67 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.52 annualized dividend and a dividend yield of 0.53%. Brown & Brown’s payout ratio is currently 16.00%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following 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 accessible through this hyperlink. Insiders own 17.02% of the company’s stock.

Institutional Trading of Brown & Brown

Institutional investors and hedge funds have recently modified their holdings of the business. Crewe Advisors LLC raised 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 acquiring an additional 228 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Brown & Brown during the 1st quarter valued at about $32,000. Park Place Capital Corp lifted its position in Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after buying an additional 318 shares during the last quarter. Alaska Permanent Fund Corp bought a new stake in Brown & Brown in the 1st quarter worth approximately $36,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Brown & Brown by 174.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after buying an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.