Brown & Brown, Inc. (NYSE:BRO) Receives $84.90 Consensus Price Target from Brokerages

Shares of Brown & Brown, Inc. (NYSE:BRO) have earned an average rating of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $85.70.

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Brown & Brown from $75.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Bank of America lowered shares of Brown & Brown from a “neutral” rating to an “underperform” rating and upped their target price for the company from $80.00 to $86.00 in a report on Wednesday, March 13th. Wells Fargo & Company upped their target price on shares of Brown & Brown from $81.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Jefferies Financial Group lowered shares of Brown & Brown from a “buy” rating to a “hold” rating and reduced their target price for the company from $85.00 to $78.00 in a report on Tuesday, January 9th. Finally, Truist Financial upped their target price on shares of Brown & Brown from $85.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, January 24th.

Brown & Brown Price Performance

Brown & Brown stock opened at $81.03 on Tuesday. Brown & Brown has a 52 week low of $58.71 and a 52 week high of $87.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.58. The firm’s 50-day simple moving average is $84.10 and its 200 day simple moving average is $76.50. The firm has a market capitalization of $23.12 billion, a PE ratio of 26.48, a P/E/G ratio of 2.54 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Brown & Brown had a net margin of 20.44% and a return on equity of 15.46%. The business had revenue of $1.03 billion for the quarter. During the same quarter in the prior year, the firm earned $0.50 earnings per share. On average, equities research analysts predict that Brown & Brown will post 3.44 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.52 annualized dividend and a dividend yield of 0.64%. Brown & Brown’s payout ratio is currently 16.99%.

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the transaction, the chairman now directly owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 16.43% of the company’s stock.

Institutional Trading of Brown & Brown

Institutional investors and hedge funds have recently bought and sold shares of the business. Clear Street Markets LLC increased its position in Brown & Brown by 93.7% during the 1st quarter. Clear Street Markets LLC now owns 461 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 223 shares in the last quarter. First Capital Advisors Group LLC. acquired a new stake in Brown & Brown during the 2nd quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new stake in Brown & Brown during the 4th quarter worth approximately $31,000. Park Place Capital Corp increased its position in Brown & Brown by 166.5% during the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 318 shares in the last quarter. Finally, Alaska Permanent Fund Corp acquired a new stake in Brown & Brown during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.