Brown & Brown, Inc. (NYSE:BRO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Brown & Brown, Inc. (NYSE:BRO) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $101.67.

A number of research analysts have recently weighed in on BRO shares. StockNews.com raised shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Wells Fargo & Company raised shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $94.00 to $112.00 in a research report on Monday, August 12th. UBS Group raised their price objective on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Truist Financial raised their price objective on shares of Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods raised their price objective 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.

Brown & Brown Trading Down 3.3 %

NYSE:BRO opened at $102.13 on Tuesday. 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 firm has a market cap of $29.13 billion, a price-to-earnings ratio of 31.42, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. Brown & Brown has a 52 week low of $66.73 and a 52 week high of $106.02. The firm has a 50-day moving average price of $102.52 and a two-hundred day moving average price of $93.34.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 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 net margin of 21.95% and a return on equity of 17.00%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. On average, equities analysts expect that Brown & Brown will post 3.68 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders 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 dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, August 7th. Brown & Brown’s dividend payout ratio is currently 16.00%.

Insider Transactions at Brown & Brown

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

Institutional Trading of Brown & Brown

Hedge funds have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System lifted its stake in Brown & Brown by 2.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock worth $23,390,000 after purchasing an additional 6,613 shares during the last quarter. Sei Investments Co. lifted its stake in Brown & Brown by 12.7% in the first quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock worth $24,169,000 after purchasing an additional 31,071 shares during the last quarter. Great Valley Advisor Group Inc. bought a new stake in Brown & Brown in the second quarter worth $1,512,000. DekaBank Deutsche Girozentrale raised its stake in shares of Brown & Brown by 12.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock valued at $21,855,000 after acquiring an additional 27,879 shares during the last quarter. Finally, Norden Group LLC raised its stake in shares of Brown & Brown by 2,650.9% during the first quarter. Norden Group LLC now owns 99,856 shares of the financial services provider’s stock valued at $8,741,000 after acquiring an additional 96,226 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

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.