Truist Financial Issues Positive Forecast for Brown & Brown (NYSE:BRO) Stock Price

Brown & Brown (NYSE:BRO) had its target price upped by Truist Financial from $116.00 to $118.00 in a report issued on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

Several other research analysts also recently commented on BRO. UBS Group increased their price objective on Brown & Brown from $91.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. 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. Jefferies Financial Group upped their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada raised their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Bank of America upped their price target on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and a consensus price target of $106.50.

Brown & Brown Stock Up 0.8 %

Shares of NYSE BRO opened at $105.84 on Wednesday. The firm has a market cap of $30.19 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83. The company’s 50-day simple moving average is $104.09 and its 200-day simple moving average is $95.60. 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 has a 52-week low of $68.42 and a 52-week high of $107.67.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 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 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. Equities analysts predict that Brown & Brown will post 3.69 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be given a $0.15 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.57%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio is presently 14.94%.

Insiders Place Their Bets

In other news, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO R. Andrew Watts sold 2,500 shares of Brown & Brown stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the sale, the chief financial officer now owns 88,445 shares in the company, valued at approximately $8,872,802.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The disclosure for this sale can be found here. 16.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently bought and sold shares of BRO. ST Germain D J Co. Inc. increased its stake in Brown & Brown by 298.5% during the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares during the period. Crewe Advisors LLC grew its holdings in shares of Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 228 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Brown & Brown during the 1st quarter worth approximately $32,000. Larson Financial Group LLC lifted its holdings in Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock worth $48,000 after buying an additional 211 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Brown & Brown by 142.3% during the 2nd quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock worth $48,000 after buying an additional 323 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Company Profile

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.