Brown & Brown (NYSE:BRO) Price Target Increased to $104.00 by Analysts at Jefferies Financial Group

Brown & Brown (NYSE:BRO) had its price objective lifted by Jefferies Financial Group from $98.00 to $104.00 in a research note released on Wednesday, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the stock. Wells Fargo & Company upgraded shares of Brown & Brown from an equal weight rating to an overweight rating and upped their target price for the company from $94.00 to $112.00 in a research report on Monday, August 12th. Truist Financial upped their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the company a buy rating in a research report on Wednesday, July 24th. Royal Bank of Canada upped their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the company an outperform rating in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Brown & Brown from a hold rating to a buy rating in a research report on Friday, August 16th. Finally, Raymond James upped their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the company an outperform rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $105.33.

Brown & Brown Stock Up 1.0 %

Shares of NYSE BRO opened at $104.75 on Wednesday. The firm’s 50-day simple moving average is $102.88 and its 200 day simple moving average is $93.76. The company has a market cap of $29.88 billion, a price-to-earnings ratio of 32.23, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Brown & Brown has a 12-month low of $66.73 and a 12-month high of $106.67.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.05. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. On average, research analysts expect that Brown & Brown will post 3.69 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.50%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total transaction of $250,800.00. Following the completion of the sale, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total value of $14,071,226.40. The disclosure for this sale can be found here. 17.02% of the stock is currently owned by company insiders.

Institutional Trading of Brown & Brown

Large investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System increased its stake in Brown & Brown by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock worth $23,390,000 after purchasing an additional 6,613 shares in the last quarter. Sei Investments Co. increased its stake in Brown & Brown by 12.7% during the 1st quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock worth $24,169,000 after purchasing an additional 31,071 shares in the last quarter. Great Valley Advisor Group Inc. bought a new position in shares of Brown & Brown during the 2nd quarter worth approximately $1,512,000. DekaBank Deutsche Girozentrale grew its stake in shares of Brown & Brown by 12.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 251,839 shares of the financial services provider’s stock worth $21,855,000 after acquiring an additional 27,879 shares in the last quarter. Finally, Norden Group LLC grew its stake in shares of Brown & Brown by 2,650.9% during the 1st quarter. Norden Group LLC now owns 99,856 shares of the financial services provider’s stock worth $8,741,000 after acquiring an additional 96,226 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

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.