Brown & Brown (NYSE:BRO) Price Target Increased to $82.00 by Analysts at Keefe, Bruyette & Woods

Brown & Brown (NYSE:BRO) had its price target boosted by Keefe, Bruyette & Woods from $80.00 to $82.00 in a report issued on Friday, Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group raised shares of Brown & Brown from a neutral rating to a buy rating and dropped their price objective for the stock from $84.00 to $83.00 in a research note on Monday, January 8th. UBS Group raised their price target on shares of Brown & Brown from $75.00 to $81.00 and gave the company a neutral rating in a research report on Monday, January 29th. Truist Financial upped their price objective on shares of Brown & Brown from $92.00 to $94.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Bank of America cut Brown & Brown from a neutral rating to an underperform rating and raised their target price for the company from $80.00 to $86.00 in a research report on Wednesday, March 13th. Finally, StockNews.com raised Brown & Brown from a hold rating to a buy rating in a report on Sunday, March 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $87.30.

Brown & Brown Stock Performance

Shares of BRO stock traded up $0.78 during trading hours on Friday, hitting $83.50. The company’s stock had a trading volume of 1,012,970 shares, compared to its average volume of 1,399,759. The stock has a market cap of $23.82 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.26 and a beta of 0.79. Brown & Brown has a 12-month low of $61.71 and a 12-month high of $87.99. The company has a 50 day moving average of $84.18 and a 200 day moving average of $77.54. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.07 by $0.07. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 earnings per share. On average, sell-side analysts forecast that Brown & Brown will post 3.62 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 0.62%. Brown & Brown’s payout ratio is presently 16.00%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the transaction, the chairman now owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 17.02% of the stock is owned by insiders.

Institutional Trading of Brown & Brown

A number of hedge funds and other institutional investors have recently modified their holdings of BRO. Fortitude Family Office LLC purchased a new position in Brown & Brown during the fourth quarter worth about $31,000. Park Place Capital Corp increased its holdings in Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 318 shares during the last quarter. Alaska Permanent Fund Corp acquired a new stake in Brown & Brown in the 1st quarter valued at approximately $36,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in Brown & Brown by 174.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 348 shares during the period. Finally, First PREMIER Bank acquired a new position in Brown & Brown during the first quarter worth $40,000. 71.01% of the stock is owned by institutional investors and hedge funds.

About Brown & Brown

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.