Brown & Brown, Inc. (NYSE:BRO) Receives $89.40 Average PT from Brokerages

Brown & Brown, Inc. (NYSE:BRO) has been assigned an average recommendation of “Hold” from the ten research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $89.40.

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on Brown & Brown from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Tuesday, June 25th. Raymond James lifted their target price on Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Bank of America raised Brown & Brown from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $91.00 to $101.00 in a report on Wednesday, May 22nd. Finally, Wells Fargo & Company lifted their target price on Brown & Brown from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th.

Insider Activity at Brown & Brown

In related news, EVP Julie Turpin sold 3,350 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the transaction, the executive vice president now directly owns 23,597 shares of the company’s stock, valued at approximately $2,121,842.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BRO. Kestra Advisory Services LLC bought a new position in Brown & Brown in the 3rd quarter worth approximately $304,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Brown & Brown during the 3rd quarter worth approximately $349,000. Envestnet Asset Management Inc. grew its holdings in shares of Brown & Brown by 145.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 396,141 shares of the financial services provider’s stock worth $27,666,000 after purchasing an additional 234,853 shares in the last quarter. FMR LLC grew its holdings in shares of Brown & Brown by 81.9% during the 3rd quarter. FMR LLC now owns 1,021,668 shares of the financial services provider’s stock worth $71,353,000 after purchasing an additional 460,068 shares in the last quarter. Finally, CI Investments Inc. grew its holdings in shares of Brown & Brown by 108.7% during the 3rd quarter. CI Investments Inc. now owns 4,193 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 2,184 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Price Performance

Shares of BRO opened at $89.41 on Friday. The firm has a market capitalization of $25.50 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. Brown & Brown has a one year low of $66.53 and a one year high of $93.75. The stock’s fifty day moving average is $88.01 and its 200-day moving average is $82.47.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.43% and a net margin of 21.09%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. Equities analysts anticipate that Brown & Brown will post 3.61 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Friday, May 3rd. Brown & Brown’s payout ratio is 16.00%.

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.