Brown & Brown (NYSE:BRO) Price Target Raised to $120.00

Brown & Brown (NYSE:BRO) had its target price hoisted by Royal Bank of Canada from $118.00 to $120.00 in a research note released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

Several other equities research analysts have also issued reports on BRO. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Morgan Stanley started coverage on Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price for the company. Barclays lifted their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Jefferies Financial Group upped their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Down 0.8 %

BRO stock opened at $104.65 on Wednesday. The company’s 50 day moving average is $105.25 and its 200 day moving average is $104.17. The stock has a market cap of $29.93 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. Brown & Brown has a 1-year low of $75.79 and a 1-year high of $114.15.

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 net margin of 20.68% and a return on equity of 17.81%. Sell-side analysts predict that Brown & Brown will post 4.15 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. Brown & Brown’s dividend payout ratio is presently 17.34%.

Institutional Trading of Brown & Brown

Several large investors have recently added to or reduced their stakes in BRO. Atlas Legacy Advisors LLC purchased a new stake in shares of Brown & Brown in the 4th quarter worth about $939,000. Callahan Advisors LLC bought a new position in Brown & Brown in the fourth quarter worth about $251,000. GAM Holding AG purchased a new stake in Brown & Brown in the fourth quarter worth about $1,023,000. D.A. Davidson & CO. boosted its position in Brown & Brown by 1.2% during the 4th quarter. D.A. Davidson & CO. now owns 29,841 shares of the financial services provider’s stock valued at $3,044,000 after acquiring an additional 361 shares in the last quarter. Finally, Truist Financial Corp raised its position in shares of Brown & Brown by 2.0% in the 4th quarter. Truist Financial Corp now owns 279,134 shares of the financial services provider’s stock worth $28,477,000 after acquiring an additional 5,521 shares in 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.