Brown & Brown, Inc. (NYSE:BRO) Receives Consensus Rating of “Hold” from Analysts

Brown & Brown, Inc. (NYSE:BRO) has received an average recommendation of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $78.4375.

A number of equities research analysts have recently commented on BRO shares. Wells Fargo & Company dropped their price target on Brown & Brown from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Bank of America dropped their price target on Brown & Brown from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. The Goldman Sachs Group dropped their price target on Brown & Brown from $82.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Royal Bank Of Canada dropped their price target on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 29th. Finally, Truist Financial dropped their price target on Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th.

Insider Transactions at Brown & Brown

In other news, Director H Palmer Proctor, Jr. bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average price of $57.10 per share, with a total value of $114,200.00. Following the transaction, the director owned 47,621 shares in the company, valued at $2,719,159.10. This represents a 4.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently bought and sold shares of BRO. Capital World Investors raised its position in Brown & Brown by 81.1% in the 3rd quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider’s stock valued at $1,639,392,000 after buying an additional 7,827,992 shares during the last quarter. Norges Bank acquired a new stake in Brown & Brown in the 4th quarter valued at approximately $516,837,000. Capital International Investors acquired a new stake in Brown & Brown in the 4th quarter valued at approximately $371,654,000. Van Lanschot Kempen Investment Management N.V. raised its position in Brown & Brown by 132.8% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,538,584 shares of the financial services provider’s stock valued at $361,725,000 after buying an additional 2,589,048 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Brown & Brown by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock valued at $3,501,264,000 after buying an additional 1,705,570 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Trading Down 1.0%

NYSE BRO opened at $59.09 on Thursday. The firm has a market cap of $20.03 billion, a P/E ratio of 19.00, a P/E/G ratio of 2.75 and a beta of 0.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64. The stock’s 50-day moving average is $60.70 and its 200-day moving average is $69.34. Brown & Brown has a one year low of $53.81 and a one year high of $111.10.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.Brown & Brown’s revenue was up 35.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. Sell-side analysts anticipate that Brown & Brown will post 4.51 earnings per share for the current fiscal 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 given a dividend of $0.165 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.1%. Brown & Brown’s dividend payout ratio (DPR) is currently 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.