Brown & Brown (NYSE:BRO) Price Target Increased to $104.00 by Analysts at Jefferies Financial Group

Brown & Brown (NYSE:BRO) had its price objective boosted by Jefferies Financial Group from $98.00 to $104.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on BRO. Wells Fargo & Company upgraded Brown & Brown from an equal weight rating to an overweight rating and upped their price target for the stock from $94.00 to $112.00 in a research note on Monday, August 12th. StockNews.com upgraded Brown & Brown from a hold rating to a buy rating in a research report on Friday, August 16th. Truist Financial raised their price target on Brown & Brown from $104.00 to $112.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Barclays assumed coverage on Brown & Brown in a research report on Wednesday, September 4th. They set an equal weight rating and a $108.00 price target for the company. Finally, Keefe, Bruyette & Woods raised their price target on Brown & Brown from $86.00 to $92.00 and gave the stock an underperform rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $105.33.

Brown & Brown Trading Up 1.0 %

Shares of Brown & Brown stock opened at $104.75 on Wednesday. The firm has a market capitalization of $29.88 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 2.45 and a beta of 0.83. Brown & Brown has a fifty-two week low of $66.73 and a fifty-two week high of $106.67. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a 50 day moving average of $102.88 and a 200 day moving average of $93.81.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.05. The company 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 firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, research analysts predict that Brown & Brown will post 3.69 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, August 7th. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares in the company, valued at $8,872,802.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.02% of the stock is owned by company insiders.

Institutional Trading of Brown & Brown

A number of hedge funds and other institutional investors have recently made changes to their positions in BRO. Chilton Investment Co. Inc. increased its position in shares of Brown & Brown by 18.4% during the fourth quarter. Chilton Investment Co. Inc. now owns 18,022 shares of the financial services provider’s stock worth $1,282,000 after purchasing an additional 2,800 shares in the last quarter. Osterweis Capital Management Inc. increased its position in Brown & Brown by 1.2% in the 4th quarter. Osterweis Capital Management Inc. now owns 386,779 shares of the financial services provider’s stock valued at $27,504,000 after acquiring an additional 4,668 shares during the period. Quarry LP acquired a new position in Brown & Brown in the 4th quarter valued at about $54,000. Speece Thorson Capital Group Inc. increased its position in Brown & Brown by 0.7% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 139,077 shares of the financial services provider’s stock valued at $9,890,000 after acquiring an additional 936 shares during the period. Finally, Cim LLC acquired a new position in Brown & Brown in the 4th quarter valued at about $1,055,000. Institutional investors and hedge funds 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.