Brown & Brown, Inc. (NYSE:BRO) Receives $97.40 Consensus Price Target from Brokerages

Shares of Brown & Brown, Inc. (NYSE:BRO) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $99.20.

BRO has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Raymond James raised their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a research report on Friday. Citigroup increased their price objective on shares of Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, UBS Group boosted their target price on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th.

Insiders Place Their Bets

In other news, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $89.92, for a total value of $301,232.00. Following the sale, the executive vice president now owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now owns 88,445 shares in the company, valued at $8,872,802.40. The disclosure for this sale can be found here. 17.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Brown & Brown

Several hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its position in shares of Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after purchasing an additional 100 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Brown & Brown by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock worth $2,243,000 after buying an additional 125 shares during the period. Copperwynd Financial LLC boosted its position in Brown & Brown by 4.8% in the 2nd quarter. Copperwynd Financial LLC now owns 2,772 shares of the financial services provider’s stock valued at $248,000 after buying an additional 126 shares during the period. Studio Investment Management LLC boosted its position in Brown & Brown by 2.1% in the 2nd quarter. Studio Investment Management LLC now owns 6,417 shares of the financial services provider’s stock valued at $574,000 after buying an additional 130 shares during the period. Finally, Simplicity Wealth LLC grew its stake in shares of Brown & Brown by 5.6% in the second quarter. Simplicity Wealth LLC now owns 2,505 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 132 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.7 %

Shares of NYSE BRO opened at $101.87 on Monday. The company’s 50-day simple moving average is $94.53 and its 200-day simple moving average is $88.18. Brown & Brown has a 52-week low of $66.73 and a 52-week high of $103.16. The firm has a market cap of $29.06 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.88 by $0.05. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. Brown & Brown’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. Equities analysts predict that Brown & Brown will post 3.68 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 annualized dividend and a yield of 0.51%. Brown & Brown’s payout ratio is 16.00%.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.