Brown & Brown (NYSE:BRO) Earns Buy Rating from Analysts at Edward Jones

Edward Jones started coverage on shares of Brown & Brown (NYSE:BRO) in a research note published on Wednesday, Marketbeat.com reports. The firm issued a buy rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the stock. UBS Group lifted their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 9th. Royal Bank of Canada upped their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Truist Financial upped their price objective on shares of Brown & Brown from $118.00 to $138.00 and gave the stock a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their price objective on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an “underperform” rating in a report on Wednesday, April 9th. Finally, Barclays raised their target price on Brown & Brown from $119.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $117.50.

Brown & Brown Trading Down 1.4 %

Shares of NYSE:BRO opened at $117.17 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average of $117.28 and a 200-day moving average of $109.98. Brown & Brown has a 12-month low of $80.87 and a 12-month high of $125.68. The stock has a market cap of $33.50 billion, a PE ratio of 33.86, a P/E/G ratio of 2.93 and a beta of 0.75.

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

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. Brown & Brown’s dividend payout ratio is currently 17.34%.

Hedge Funds Weigh In On Brown & Brown

Large investors have recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown during the fourth quarter valued at $28,000. Johnson Financial Group Inc. lifted its position in shares of Brown & Brown by 534.1% during the fourth 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 last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares during the last quarter. R Squared Ltd acquired a new position in shares of Brown & Brown during the fourth quarter valued at about $31,000. Finally, Sunbelt Securities Inc. raised its position in shares of Brown & Brown by 581.8% in the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Company Profile

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.