Brown & Brown, Inc. (NYSE:BRO) Receives $113.17 Average Target Price from Analysts

Shares of Brown & Brown, Inc. (NYSE:BRO) have been given an average recommendation of “Hold” by the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $112.67.

A number of brokerages have issued reports on BRO. Wells Fargo & Company lifted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday. Finally, Bank of America increased their target price on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th.

Brown & Brown Stock Performance

NYSE:BRO opened at $123.08 on Tuesday. The stock has a 50-day moving average price of $112.98 and a 200 day moving average price of $108.14. The stock has a market capitalization of $35.19 billion, a P/E ratio of 35.57, a P/E/G ratio of 2.93 and a beta of 0.86. Brown & Brown has a 12-month low of $80.33 and a 12-month high of $123.24. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Equities research analysts forecast that Brown & Brown will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

Institutional Trading of Brown & Brown

Institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Brown & Brown during the third quarter valued at $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in Brown & Brown during the 4th quarter valued at about $28,000. Johnson Financial Group Inc. boosted its position in Brown & Brown by 534.1% in the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock valued at $29,000 after buying an additional 235 shares during the period. Y.D. More Investments Ltd grew its stake in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 162 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Brown & Brown during the fourth quarter worth approximately $31,000. 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.