Brown & Brown, Inc. (NYSE:BRO) Receives $118.85 Average Price Target from Brokerages

Brown & Brown, Inc. (NYSE:BRO) has earned an average rating of “Hold” from the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. 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. The average 1 year price target among brokerages that have covered the stock in the last year is $118.85.

Several equities analysts have weighed in on BRO shares. Jefferies Financial Group lifted their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Truist Financial decreased their target price on Brown & Brown from $138.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. UBS Group lifted their price target on Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, April 9th. Edward Jones began coverage on Brown & Brown in a research note on Wednesday, April 16th. They issued a “buy” rating for the company. Finally, Barclays raised their price objective on Brown & Brown from $119.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, April 11th.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $107.88 on Thursday. The stock’s fifty day simple moving average is $109.92 and its 200 day simple moving average is $111.23. The stock has a market capitalization of $30.93 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.38 and a beta of 0.82. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.55. Brown & Brown has a 52-week low of $89.92 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the company posted $1.14 earnings per share. Brown & Brown’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Brown & Brown will post 4.18 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, May 21st. Stockholders of record on Monday, May 12th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown’s dividend payout ratio is currently 16.71%.

Hedge Funds Weigh In On Brown & Brown

Large investors have recently added to or reduced their stakes in the company. Bares Capital Management Inc. bought a new stake in Brown & Brown in the first quarter valued at about $26,000. Johnson Financial Group Inc. boosted its stake 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 in the last quarter. Sunbelt Securities Inc. grew its position in Brown & Brown by 581.8% in the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 256 shares during the period. Optimum Investment Advisors acquired a new position in Brown & Brown during the first quarter worth $31,000. Finally, SouthState Corp raised its stake in Brown & Brown by 188.6% during the first quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds 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.