Keefe, Bruyette & Woods Cuts Brown & Brown (NYSE:BRO) Price Target to $100.00

Brown & Brown (NYSE:BRO) had its target price decreased by Keefe, Bruyette & Woods from $102.00 to $100.00 in a research note published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the financial services provider’s stock.

Several other research firms also recently weighed in on BRO. Bank of America lifted their target price on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Wells Fargo & Company increased their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Barclays boosted their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, April 11th. UBS Group increased their price objective on Brown & Brown from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, April 9th. Finally, Truist Financial cut their price target on Brown & Brown from $138.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $116.67.

Brown & Brown Price Performance

Shares of BRO opened at $111.33 on Monday. The firm has a 50-day simple moving average of $117.47 and a two-hundred day simple moving average of $110.74. The stock has a market cap of $31.91 billion, a PE ratio of 32.18, a P/E/G ratio of 2.93 and a beta of 0.87. Brown & Brown has a 1-year low of $84.53 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.

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

Brown & Brown Dividend Announcement

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

Institutional Investors Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently bought and sold shares of BRO. Barclays PLC increased its holdings in shares of Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after purchasing an additional 371,980 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Brown & Brown during the third quarter worth about $58,000. Synovus Financial Corp increased its holdings in Brown & Brown by 1.9% in the third quarter. Synovus Financial Corp now owns 6,157 shares of the financial services provider’s stock valued at $638,000 after buying an additional 117 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Brown & Brown by 24.6% during the 3rd quarter. Franklin Resources Inc. now owns 109,166 shares of the financial services provider’s stock valued at $11,565,000 after acquiring an additional 21,574 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Brown & Brown by 130.7% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 234 shares in the last quarter. Institutional investors and hedge funds 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.