Brown & Brown, Inc. (NYSE:BRO) has been assigned an average recommendation of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $46.00.

A number of research analysts recently issued reports on BRO shares. Zacks Investment Research lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Monday. Morgan Stanley lifted their target price on Brown & Brown from $40.00 to $43.00 and gave the company an “underweight” rating in a report on Wednesday, October 18th. Barclays PLC lifted their target price on Brown & Brown from $39.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 16th. Wells Fargo & Company reiterated a “hold” rating on shares of Brown & Brown in a report on Tuesday, August 15th. Finally, BidaskClub lowered Brown & Brown from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, October 16th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. The firm had revenue of $475.60 million during the quarter, compared to analyst estimates of $475.13 million. Brown & Brown had a return on equity of 10.99% and a net margin of 14.66%. Brown & Brown’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Friday, October 27th will be paid a $0.15 dividend. The ex-dividend date is Thursday, October 26th. This is a boost from Brown & Brown’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. Brown & Brown’s dividend payout ratio (DPR) is currently 31.75%.

A number of institutional investors have recently bought and sold shares of BRO. OppenheimerFunds Inc. raised its stake in Brown & Brown by 24.9% in the first quarter. OppenheimerFunds Inc. now owns 10,134 shares of the financial services provider’s stock valued at $423,000 after buying an additional 2,023 shares in the last quarter. Teachers Advisors LLC raised its stake in Brown & Brown by 40.0% in the first quarter. Teachers Advisors LLC now owns 190,147 shares of the financial services provider’s stock valued at $7,933,000 after buying an additional 54,283 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in Brown & Brown by 9.1% in the first quarter. Thrivent Financial For Lutherans now owns 21,550 shares of the financial services provider’s stock valued at $899,000 after buying an additional 1,790 shares in the last quarter. Morgan Stanley raised its stake in Brown & Brown by 102.6% in the first quarter. Morgan Stanley now owns 428,750 shares of the financial services provider’s stock valued at $17,887,000 after buying an additional 217,132 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Brown & Brown by 10.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 441,516 shares of the financial services provider’s stock valued at $18,421,000 after buying an additional 43,292 shares in the last quarter. Institutional investors own 71.62% of the company’s stock.

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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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