Brown & Brown (NYSE:BRO) Price Target Raised to $125.00

Brown & Brown (NYSE:BRO) had its target price raised by Wells Fargo & Company from $115.00 to $125.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on BRO. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Jefferies Financial Group upped their price objective on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Truist Financial boosted their target price on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Bank of America increased their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Morgan Stanley assumed coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Trading Down 0.8 %

Shares of NYSE BRO opened at $104.65 on Wednesday. Brown & Brown has a twelve month low of $75.79 and a twelve month high of $114.15. The firm has a market cap of $29.93 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. The business has a fifty day simple moving average of $105.25 and a two-hundred day simple moving average of $104.17. The company has a quick ratio of 1.73, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Analysts expect that Brown & Brown will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.57%. Brown & Brown’s payout ratio is presently 17.34%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in Brown & Brown in the 3rd quarter worth approximately $26,000. ST Germain D J Co. Inc. boosted its holdings in shares of Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Brown & Brown in the third quarter worth $29,000. Y.D. More Investments Ltd raised its holdings in shares of Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 162 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Brown & Brown during the fourth quarter valued at $31,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.