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

Brown & Brown, Inc. (NYSE:BRO) has earned an average rating of “Hold” from the nineteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $79.0625.

BRO has been the subject of a number of research reports. Weiss Ratings downgraded Brown & Brown from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. The Goldman Sachs Group boosted their target price on Brown & Brown from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Mizuho upped their price target on Brown & Brown from $74.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday. Citizens Jmp raised their price target on shares of Brown & Brown from $70.00 to $78.00 and gave the stock a “market outperform” rating in a research note on Friday. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Brown & Brown in a research note on Friday, June 26th.

Brown & Brown Price Performance

BRO stock opened at $67.65 on Monday. The stock has a 50-day moving average price of $60.05 and a two-hundred day moving average price of $67.51. The stock has a market cap of $22.93 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 3.12 and a beta of 0.60. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. Brown & Brown has a 1 year low of $53.81 and a 1 year high of $108.23.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The company’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. Equities analysts forecast that Brown & Brown will post 4.51 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors 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 annualized dividend and a yield of 1.0%. Brown & Brown’s dividend payout ratio is presently 21.22%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Brown & Brown

A number of large investors have recently modified their holdings of the business. Darwin Wealth Management LLC bought a new position in shares of Brown & Brown in the 2nd quarter valued at about $30,000. Basepoint Wealth LLC bought a new stake in Brown & Brown during the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA bought a new stake in Brown & Brown during the first quarter worth about $25,000. DV Equities LLC acquired a new position in Brown & Brown during the fourth quarter valued at approximately $33,000. Finally, Board of the Pension Protection Fund acquired a new position in Brown & Brown during the fourth quarter valued at approximately $40,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

About Brown & Brown

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.