Brown & Brown (NYSE:BRO) Given New $125.00 Price Target at Wells Fargo & Company

Brown & Brown (NYSE:BRO) had its target price hoisted by Wells Fargo & Company from $115.00 to $125.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also weighed in on BRO. Jefferies Financial Group upped their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Truist Financial boosted their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Barclays lifted their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Stock Performance

NYSE BRO opened at $103.38 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $105.51 and its two-hundred day moving average is $104.08. The stock has a market capitalization of $29.56 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.12 and a beta of 0.85. Brown & Brown has a 12-month low of $75.79 and a 12-month high of $114.15.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. Research analysts expect that Brown & Brown will post 3.74 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s dividend payout ratio is presently 16.35%.

Hedge Funds Weigh In On Brown & Brown

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its stake in Brown & Brown by 0.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock worth $405,638,000 after purchasing an additional 28,180 shares during the period. Barclays PLC raised its position 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 worth $255,537,000 after buying an additional 371,980 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Brown & Brown by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after acquiring an additional 17,934 shares during the last quarter. FMR LLC grew its position in Brown & Brown by 42.4% during the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after acquiring an additional 330,661 shares during the period. Finally, Natixis Advisors LLC increased its stake in Brown & Brown by 6.2% during the third quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider’s stock worth $80,749,000 after acquiring an additional 45,766 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.