Brown & Brown, Inc. (NYSE:BRO) Receives $112.64 Average PT from Analysts

Brown & Brown, Inc. (NYSE:BRO) has been assigned an average recommendation of “Hold” from the fifteen brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $112.6429.

A number of research firms have issued reports on BRO. Wells Fargo & Company downgraded Brown & Brown from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $104.00 to $101.00 in a research note on Wednesday, August 13th. Truist Financial set a $120.00 price objective on Brown & Brown in a research note on Wednesday, July 30th. Barclays reduced their price objective on Brown & Brown from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 29th. Argus reaffirmed a “hold” rating on shares of Brown & Brown in a research note on Thursday, July 31st. Finally, Bank of America raised Brown & Brown from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $126.00 to $130.00 in a research note on Wednesday, July 30th.

Brown & Brown Trading Up 1.0%

Shares of BRO opened at $92.62 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.72 and a quick ratio of 6.72. Brown & Brown has a 1 year low of $89.99 and a 1 year high of $125.68. The company has a 50 day simple moving average of $96.10 and a two-hundred day simple moving average of $107.26. The firm has a market cap of $30.55 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 2.07 and a beta of 0.80.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm posted $0.93 EPS. The company’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts expect that Brown & Brown will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 13th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.6%. Brown & Brown’s payout ratio is currently 17.29%.

Insider Activity at Brown & Brown

In related news, Director Bronislaw Edmund Masojada bought 1,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average price of $91.44 per share, with a total value of $91,440.00. Following the transaction, the director owned 5,000 shares in the company, valued at $457,200. This trade represents a 25.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul J. Krump bought 2,678 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $93.31 per share, for a total transaction of $249,884.18. Following the transaction, the director owned 5,353 shares in the company, valued at approximately $499,488.43. The trade was a 100.11% increase in their position. The disclosure for this purchase can be found here. Insiders own 15.59% of the company’s stock.

Hedge Funds Weigh In On Brown & Brown

Large investors have recently modified their holdings of the stock. Capital Investment Advisors LLC bought a new position in shares of Brown & Brown during the 1st quarter valued at approximately $1,929,000. GW&K Investment Management LLC grew its position in Brown & Brown by 104.4% in the 1st quarter. GW&K Investment Management LLC now owns 419 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 214 shares during the last quarter. Fifth Third Bancorp grew its position in Brown & Brown by 7.1% in the 1st quarter. Fifth Third Bancorp now owns 6,807 shares of the financial services provider’s stock valued at $847,000 after acquiring an additional 450 shares during the last quarter. Tandem Investment Advisors Inc. grew its position in Brown & Brown by 2.5% in the 1st quarter. Tandem Investment Advisors Inc. now owns 764,709 shares of the financial services provider’s stock valued at $95,130,000 after acquiring an additional 18,677 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in Brown & Brown by 172.5% in the 1st quarter. Handelsbanken Fonder AB now owns 1,314,434 shares of the financial services provider’s stock valued at $163,516,000 after acquiring an additional 832,100 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.