Brown & Brown, Inc. (NYSE:BRO) Receives $99.80 Average PT from Brokerages

by · The Cerbat Gem

Shares of Brown & Brown, Inc. (NYSE:BRO – Get Free Report) have earned a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the firm, MarketBeat 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 brokers that have issued a report on the stock in the last year is $99.80.

A number of equities research analysts have issued reports on BRO shares. Keefe, Bruyette & Woods cut their price target on Brown & Brown from $92.00 to $79.00 and set an “underperform” rating for the company in a research note on Tuesday, November 4th. Bank of America reiterated a “neutral” rating and set a $97.00 target price (down previously from $135.00) on shares of Brown & Brown in a research report on Monday, November 3rd. Wolfe Research started coverage on Brown & Brown in a research note on Thursday, November 20th. They set a “peer perform” rating on the stock. Truist Financial lowered their price target on Brown & Brown from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Finally, Wells Fargo & Company cut their price objective 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, October 29th.

Check Out Our Latest Research Report on BRO

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Bares Capital Management Inc. purchased a new stake in shares of Brown & Brown in the first quarter worth about $26,000. ST Germain D J Co. Inc. increased its stake in Brown & Brown by 298.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Brown & Brown in the 2nd quarter worth approximately $30,000. Cornerstone Planning Group LLC raised its holdings in shares of Brown & Brown by 423.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 220 shares in the last quarter. Finally, Motco bought a new position in shares of Brown & Brown during the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $80.78 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 2.10. Brown & Brown has a 1-year low of $76.17 and a 1-year high of $125.68. The company has a market capitalization of $27.58 billion, a P/E ratio of 24.19, a P/E/G ratio of 1.89 and a beta of 0.82. The firm’s 50 day simple moving average is $80.89 and its two-hundred day simple moving average is $92.47.

Brown & Brown (NYSE:BRO – Get Free Report) last announced its quarterly earnings data on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 35.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 earnings per share. Research analysts expect that Brown & Brown will post 4.18 EPS 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 issued a $0.165 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.15. Brown & Brown’s payout ratio is presently 19.76%.

About Brown & Brown

(Get Free Report)

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.

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