Truist Financial Has Lowered Expectations for Brown & Brown (NYSE:BRO) Stock Price

Brown & Brown (NYSE:BRO) had its target price cut by Truist Financial from $138.00 to $130.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on BRO. Morgan Stanley restated an “equal weight” rating and set a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. Edward Jones initiated coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They set a “buy” rating for the company. Bank of America upped their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Wells Fargo & Company raised their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Barclays upped their price objective 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and a consensus target price of $116.83.

Brown & Brown Trading Up 1.4 %

Shares of NYSE BRO opened at $110.60 on Wednesday. Brown & Brown has a 1 year low of $81.79 and a 1 year high of $125.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a 50-day moving average of $117.83 and a 200 day moving average of $110.66. The stock has a market cap of $31.70 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Brown & Brown’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 earnings per share. As a group, sell-side analysts expect that Brown & Brown will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. Brown & Brown’s dividend payout ratio is currently 16.71%.

Hedge Funds Weigh In On Brown & Brown

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kohmann Bosshard Financial Services LLC bought a new position in Brown & Brown in the fourth quarter worth approximately $28,000. Johnson Financial Group Inc. raised its holdings 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 worth $29,000 after purchasing an additional 235 shares during the period. Y.D. More Investments Ltd lifted its position in Brown & Brown by 122.7% during the fourth 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 in the last quarter. R Squared Ltd bought a new stake in Brown & Brown during the fourth quarter valued at about $31,000. Finally, Sunbelt Securities Inc. increased 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 worth $31,000 after buying an additional 256 shares in 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.