Brown & Brown (NYSE:BRO) Price Target Lowered to $114.00 at Truist Financial

by · The Markets Daily

Brown & Brown (NYSE:BRO – Free Report) had its price objective cut by Truist Financial from $120.00 to $114.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on BRO. Weiss Ratings downgraded shares of Brown & Brown from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. BMO Capital Markets lowered their target price on shares of Brown & Brown from $122.00 to $106.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. Keefe, Bruyette & Woods lowered their target price on shares of Brown & Brown from $104.00 to $87.00 and set an “underperform” rating for the company in a report on Thursday, July 31st. Barclays lowered their target price on shares of Brown & Brown from $108.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their target price on shares of Brown & Brown from $98.00 to $92.00 and set an “equal weight” rating for the company in a report on Wednesday. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $109.00.

View Our Latest Stock Report on Brown & Brown

Brown & Brown Stock Performance

NYSE:BRO opened at $80.24 on Wednesday. The firm has a 50 day simple moving average of $92.82 and a 200-day simple moving average of $102.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 6.72. The firm has a market cap of $26.47 billion, a PE ratio of 24.03, a P/E/G ratio of 1.85 and a beta of 0.79. Brown & Brown has a 1-year low of $79.68 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO – Get Free Report) last posted 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 business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.54 billion. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The company’s revenue was up 35.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 earnings per share. On average, equities analysts expect that Brown & Brown will post 4.18 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th will be paid a dividend of $0.165 per share. This is an increase from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, November 5th. Brown & Brown’s payout ratio is presently 17.29%.

Insider Activity at Brown & Brown

In other Brown & Brown news, Director Paul J. Krump acquired 2,678 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $93.31 per share, for a total transaction of $249,884.18. Following the completion of the purchase, the director directly owned 5,353 shares in the company, valued at $499,488.43. This represents a 100.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bronislaw Edmund Masojada acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were acquired at an average price of $91.44 per share, with a total value of $91,440.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at $457,200. This trade represents a 25.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 17.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bares Capital Management Inc. acquired a new position in shares of Brown & Brown during the first quarter worth $26,000. Optimum Investment Advisors acquired a new position in shares of Brown & Brown during the first quarter worth $31,000. SouthState Corp lifted its position in shares of Brown & Brown by 188.6% during the first quarter. SouthState Corp now owns 254 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 166 shares in the last quarter. ST Germain D J Co. Inc. lifted its position in shares of Brown & Brown by 298.5% during the second quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in shares of Brown & Brown during the second quarter worth $30,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Company Profile

(Get Free Report)

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.

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