Brown & Brown, Inc. (NYSE:BRO) Given Consensus Rating of “Hold” by Brokerages

Brown & Brown, Inc. (NYSE:BROGet Rating) has been given a consensus rating of “Hold” by the ten ratings firms that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $71.11.

Several equities analysts have commented on the company. Truist Financial upped their price target on Brown & Brown from $77.00 to $82.00 in a report on Thursday, April 21st. Royal Bank of Canada upped their price objective on Brown & Brown from $64.00 to $67.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 26th. Morgan Stanley upped their price objective on Brown & Brown from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 14th. UBS Group assumed coverage on Brown & Brown in a research note on Monday, April 18th. They issued a “neutral” rating and a $76.00 price objective on the stock. Finally, Zacks Investment Research lowered Brown & Brown from a “buy” rating to a “hold” rating and set a $67.00 price objective on the stock. in a research note on Thursday, January 27th.

Brown & Brown stock traded up $0.42 during trading hours on Tuesday, hitting $57.00. The stock had a trading volume of 19,125 shares, compared to its average volume of 1,868,399. The company has a 50-day moving average of $67.75 and a two-hundred day moving average of $66.65. The company has a quick ratio of 1.04, a current ratio of 3.80 and a debt-to-equity ratio of 0.81. The company has a market cap of $16.14 billion, a PE ratio of 27.07 and a beta of 0.81. Brown & Brown has a fifty-two week low of $50.78 and a fifty-two week high of $74.00.

Brown & Brown (NYSE:BROGet Rating) last posted its quarterly earnings results on Monday, April 25th. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. Brown & Brown had a return on equity of 15.53% and a net margin of 19.35%. During the same period in the previous year, the business posted $0.70 earnings per share. As a group, analysts forecast that Brown & Brown will post 2.28 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 18th. Investors of record on Monday, May 9th will be given a dividend of $0.102 per share. The ex-dividend date is Friday, May 6th. This represents a $0.41 dividend on an annualized basis and a yield of 0.72%. Brown & Brown’s dividend payout ratio (DPR) is presently 19.16%.

In other news, Director Lawrence L. Gellerstedt III acquired 1,670 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The shares were purchased at an average cost of $59.99 per share, for a total transaction of $100,183.30. Following the transaction, the director now owns 7,727 shares of the company’s stock, valued at $463,542.73. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hugh M. Brown acquired 824 shares of the firm’s stock in a transaction on Thursday, May 5th. The stock was purchased at an average price of $59.66 per share, for a total transaction of $49,159.84. Following the completion of the transaction, the director now directly owns 49,452 shares in the company, valued at approximately $2,950,306.32. The disclosure for this purchase can be found here. 16.67% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BRO. Select Equity Group L.P. lifted its stake in shares of Brown & Brown by 1.6% in the 4th quarter. Select Equity Group L.P. now owns 18,275,989 shares of the financial services provider’s stock valued at $1,284,437,000 after purchasing an additional 290,645 shares during the period. State Street Corp lifted its stake in shares of Brown & Brown by 1.0% in the 4th quarter. State Street Corp now owns 12,070,204 shares of the financial services provider’s stock valued at $848,294,000 after purchasing an additional 120,650 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Brown & Brown by 8.9% in the 1st quarter. Principal Financial Group Inc. now owns 8,854,266 shares of the financial services provider’s stock valued at $639,898,000 after purchasing an additional 723,275 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Brown & Brown in the 4th quarter valued at $449,898,000. Finally, Geode Capital Management LLC lifted its stake in shares of Brown & Brown by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 4,873,604 shares of the financial services provider’s stock valued at $341,895,000 after purchasing an additional 405,556 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Brown & Brown Company Profile (Get Rating)

Brown & Brown, Inc markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services.

Further Reading

Analyst Recommendations for Brown & Brown (NYSE:BRO)

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