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

Shares of Brown & Brown, Inc. (NYSE:BRO) have earned a consensus rating of “Hold” from the nineteen brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $98.6667.

BRO has been the subject of a number of recent research reports. Raymond James Financial restated an “outperform” rating on shares of Brown & Brown in a report on Monday, November 3rd. Morgan Stanley reduced their target price on shares of Brown & Brown from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, November 17th. Bank of America reissued a “neutral” rating and issued a $97.00 price target (down from $135.00) on shares of Brown & Brown in a research note on Monday, November 3rd. Citigroup lowered shares of Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Finally, Truist Financial decreased their price objective on Brown & Brown from $114.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday.

Institutional Trading of Brown & Brown

A number of institutional investors have recently made changes to their positions in BRO. Access Investment Management LLC bought a new stake in Brown & Brown in the 2nd quarter worth $1,109,000. Invesco Ltd. raised its stake in shares of Brown & Brown by 1.1% during the second quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock valued at $461,925,000 after acquiring an additional 46,235 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Brown & Brown by 30.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 760,893 shares of the financial services provider’s stock worth $84,360,000 after purchasing an additional 178,082 shares during the period. Caitlin John LLC purchased a new stake in shares of Brown & Brown during the second quarter worth about $1,432,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Brown & Brown in the second quarter worth about $1,635,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

BRO opened at $80.12 on Monday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $27.35 billion, a P/E ratio of 23.99, a PEG ratio of 1.78 and a beta of 0.81. The stock has a 50-day moving average price of $79.97 and a 200-day moving average price of $89.32. Brown & Brown has a 12-month low of $76.17 and a 12-month high of $125.68.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Brown & Brown had a return on equity of 13.64% and a net margin of 18.23%.Brown & Brown’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same period last year, the firm posted $0.91 EPS. Equities analysts predict that Brown & Brown will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th were paid a $0.165 dividend. This is an increase from Brown & Brown’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. Brown & Brown’s payout ratio is presently 19.76%.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.