Brown & Brown, Inc. (NYSE:BRO) Receives $79.06 Consensus PT from Analysts

Brown & Brown, Inc. (NYSE:BRO) has been given a consensus recommendation of “Hold” by the nineteen ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $78.6250.

A number of research firms have weighed in on BRO. The Goldman Sachs Group boosted their target price on shares of Brown & Brown from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Wells Fargo & Company lowered their price target on Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 9th. Barclays raised their price target on Brown & Brown from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Mizuho boosted their price objective on Brown & Brown from $74.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Finally, Citizens Jmp boosted their price objective on Brown & Brown from $70.00 to $78.00 and gave the stock a “market outperform” rating in a research report on Friday, July 10th.

Insider Buying and Selling at Brown & Brown

In related news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the completion of the purchase, the director owned 47,621 shares in the company, valued at approximately $2,719,159.10. The trade was a 4.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On Brown & Brown

Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Brown & Brown in the fourth quarter valued at $516,837,000. Capital International Investors bought a new position in Brown & Brown in the fourth quarter worth $371,654,000. Van Lanschot Kempen Investment Management N.V. boosted its stake in Brown & Brown by 132.8% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,538,584 shares of the financial services provider’s stock worth $361,725,000 after buying an additional 2,589,048 shares in the last quarter. Deutsche Bank AG boosted its stake in Brown & Brown by 53.0% during the fourth quarter. Deutsche Bank AG now owns 3,929,461 shares of the financial services provider’s stock worth $313,178,000 after buying an additional 1,361,934 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Brown & Brown by 1,679.0% in the 3rd quarter. AQR Capital Management LLC now owns 1,204,318 shares of the financial services provider’s stock valued at $112,953,000 after buying an additional 1,136,623 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Down 0.1%

Shares of BRO stock opened at $69.29 on Monday. Brown & Brown has a 12 month low of $53.81 and a 12 month high of $104.97. The company has a market cap of $23.49 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 3.20 and a beta of 0.60. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $61.14 and its two-hundred day moving average is $67.09.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. Brown & Brown’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.29 earnings per share. Equities analysts predict that Brown & Brown will post 4.5 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, May 11th were issued a dividend of $0.165 per share. The ex-dividend date was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. Brown & Brown’s payout ratio is 21.22%.

Brown & Brown Company Profile

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.