Brown & Brown, Inc. (NYSE:BRO) has been assigned a consensus rating of “Hold” from the twelve research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $46.11.

A number of analysts have recently issued reports on BRO shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $45.00 price objective on shares of Brown & Brown in a research note on Monday, October 16th. Citigroup Inc. lowered shares of Brown & Brown from a “neutral” rating to a “sell” rating and set a $47.00 price objective on the stock. in a research note on Wednesday, November 8th. Barclays PLC lifted their price objective on shares of Brown & Brown from $39.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 16th. Zacks Investment Research upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Wednesday, November 1st. Finally, Wells Fargo & Company set a $45.00 price objective on shares of Brown & Brown and gave the company a “hold” rating in a research note on Monday, October 16th.

In related news, insider Michael Waldkirch sold 75,000 shares of Brown & Brown stock in a transaction on Friday, October 20th. The shares were sold at an average price of $0.75, for a total value of $56,250.00. Also, Director Richard Silas sold 50,000 shares of Brown & Brown stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $0.83, for a total transaction of $41,500.00. In the last 90 days, insiders sold 163,000 shares of company stock valued at $126,250. Insiders own 16.98% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas increased its stake in Brown & Brown by 1.1% during the second quarter. Teacher Retirement System of Texas now owns 9,529 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 105 shares during the last quarter. World Asset Management Inc increased its stake in Brown & Brown by 1.7% during the second quarter. World Asset Management Inc now owns 7,326 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 120 shares during the last quarter. Pzena Investment Management LLC increased its stake in Brown & Brown by 2.8% during the second quarter. Pzena Investment Management LLC now owns 5,087 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 138 shares during the last quarter. State of Wisconsin Investment Board increased its stake in Brown & Brown by 0.6% during the second quarter. State of Wisconsin Investment Board now owns 23,381 shares of the financial services provider’s stock valued at $1,007,000 after purchasing an additional 140 shares during the last quarter. Finally, Rowland & Co. Investment Counsel ADV increased its stake in Brown & Brown by 4.1% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 4,465 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 72.35% of the company’s stock.

Shares of Brown & Brown (NYSE BRO) traded down $0.31 during mid-day trading on Monday, reaching $50.05. 143,900 shares of the company’s stock were exchanged, compared to its average volume of 584,164. The firm has a market capitalization of $6,980.00, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.69 and a beta of 0.79. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.35. Brown & Brown has a 1 year low of $41.10 and a 1 year high of $50.81.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $475.60 million for the quarter, compared to analysts’ expectations of $475.13 million. Brown & Brown had a net margin of 14.66% and a return on equity of 10.99%. Brown & Brown’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. research analysts anticipate that Brown & Brown will post 1.86 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 8th. Investors of record on Friday, October 27th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Thursday, October 26th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.14. Brown & Brown’s payout ratio is 31.75%.

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About Brown & Brown

Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.

Analyst Recommendations for Brown & Brown (NYSE:BRO)

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