Brown & Brown, Inc. (NYSE:BRO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Brown & Brown, Inc. (NYSE:BRO) have received an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $113.17.

Several equities analysts have weighed in on BRO shares. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Bank of America increased their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial boosted their price objective on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley began coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 target price for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning lifted its position in Brown & Brown by 69.7% during the second quarter. Creative Planning now owns 29,780 shares of the financial services provider’s stock valued at $2,663,000 after purchasing an additional 12,236 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Brown & Brown by 2.5% in the 2nd quarter. NewEdge Advisors LLC now owns 19,556 shares of the financial services provider’s stock valued at $1,748,000 after acquiring an additional 484 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Brown & Brown by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 19,634 shares of the financial services provider’s stock worth $1,755,000 after acquiring an additional 491 shares in the last quarter. Cetera Investment Advisers increased its stake in Brown & Brown by 60.6% during the second quarter. Cetera Investment Advisers now owns 27,338 shares of the financial services provider’s stock worth $2,444,000 after acquiring an additional 10,313 shares during the last quarter. Finally, Czech National Bank raised its position in Brown & Brown by 6.9% during the third quarter. Czech National Bank now owns 48,231 shares of the financial services provider’s stock valued at $4,997,000 after purchasing an additional 3,115 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $108.64 on Monday. The stock’s fifty day moving average is $104.65 and its 200 day moving average is $104.74. Brown & Brown has a one year low of $78.70 and a one year high of $114.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.73 and a current ratio of 1.79. The stock has a market cap of $31.07 billion, a P/E ratio of 31.40, a P/E/G ratio of 2.84 and a beta of 0.86.

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

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

Brown & Brown Company Profile

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.