Brown & Brown (NYSE:BRO) Price Target Raised to $74.00

Brown & Brown (NYSE:BRO) had its price objective lifted by BMO Capital Markets from $73.00 to $74.00 in a report released on Wednesday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the company. Weiss Ratings lowered Brown & Brown from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Morgan Stanley cut shares of Brown & Brown from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $60.00 to $55.00 in a research note on Monday, July 6th. Barclays boosted their target price on shares of Brown & Brown from $72.00 to $76.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. The Goldman Sachs Group upped their price target on shares of Brown & Brown from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Finally, Mizuho increased their price target on shares of Brown & Brown from $74.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and an average target price of $79.06.

Brown & Brown Stock Down 0.5%

Shares of BRO stock opened at $70.50 on Wednesday. The firm’s fifty day moving average price is $63.65 and its two-hundred day moving average price is $66.46. The company has a current ratio of 2.11, a quick ratio of 1.64 and a debt-to-equity ratio of 0.58. Brown & Brown has a 1 year low of $53.81 and a 1 year high of $98.30. The firm has a market capitalization of $23.59 billion, a P/E ratio of 22.24, a PEG ratio of 3.54 and a beta of 0.60.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The company’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. On average, equities analysts predict that Brown & Brown will post 4.49 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, August 12th. This represents a $0.66 annualized dividend and a yield of 0.9%. Brown & Brown’s dividend payout ratio (DPR) is presently 20.82%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. bought 2,000 shares of Brown & Brown stock in a transaction dated Tuesday, May 5th. The stock was bought at an average price of $57.10 per share, with a total value of $114,200.00. Following the completion of the transaction, the director owned 47,621 shares in the company, valued at $2,719,159.10. The trade was a 4.38% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.13% of the company’s stock.

Institutional Trading of Brown & Brown

Several hedge funds and other institutional investors have recently bought and sold shares of BRO. Union Bancaire Privee UBP SA acquired a new position in shares of Brown & Brown during the 1st quarter worth approximately $25,000. Basepoint Wealth LLC acquired a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new stake in shares of Brown & Brown in the second quarter valued at approximately $30,000. DV Equities LLC acquired a new stake in Brown & Brown during the fourth quarter worth approximately $33,000. Finally, Allied Private Wealth LLC acquired a new stake in Brown & Brown during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.