Brown & Brown (BRO) – Analysts’ Weekly Ratings Updates

Brown & Brown (NYSE: BRO) recently received a number of ratings updates from brokerages and research firms:

• 11/2/2024 – Brown & Brown was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/30/2024 – Brown & Brown had its price target raised by analysts at Royal Bank of Canada from $113.00 to $118.00. They now have an “outperform” rating on the stock.
• 10/30/2024 – Brown & Brown had its price target raised by analysts at Truist Financial Co. from $116.00 to $118.00. They now have a “buy” rating on the stock.
• 10/25/2024 – Brown & Brown was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/16/2024 – Brown & Brown was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/16/2024 – Brown & Brown had its price target raised by analysts at Truist Financial Co. from $112.00 to $116.00. They now have a “buy” rating on the stock.
• 10/10/2024 – Brown & Brown had its price target raised by analysts at Wells Fargo & Company from $112.00 to $114.00. They now have an “overweight” rating on the stock.
• 10/10/2024 – Brown & Brown had its price target raised by analysts at Bank of America Co. from $108.00 to $117.00. They now have a “neutral” rating on the stock.
• 10/9/2024 – Brown & Brown had its price target raised by analysts at Jefferies Financial Group Inc. from $98.00 to $104.00. They now have a “hold” rating on the stock.
• 9/24/2024 – Brown & Brown is now covered by analysts at Argus. They set a “buy” rating and a $120.00 price target on the stock.

Brown & Brown Trading Down 0.5 %

NYSE BRO opened at $111.89 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $32.00 billion, a P/E ratio of 30.49, a PEG ratio of 2.59 and a beta of 0.82. The business has a fifty day simple moving average of $105.16 and a 200 day simple moving average of $97.59. Brown & Brown, Inc. has a 12 month low of $69.13 and a 12 month high of $114.08.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. On average, analysts predict that Brown & Brown, Inc. will post 3.73 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a dividend of $0.15 per share. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of Brown & Brown stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 17.02% of the company’s stock.

Institutional Trading of Brown & Brown

Several hedge funds and other institutional investors have recently modified their holdings of the business. Public Sector Pension Investment Board lifted its position in shares of Brown & Brown by 2.7% during the third quarter. Public Sector Pension Investment Board now owns 41,285 shares of the financial services provider’s stock worth $4,277,000 after acquiring an additional 1,100 shares in the last quarter. Fiduciary Trust Co increased its position in shares of Brown & Brown by 14.0% during the third quarter. Fiduciary Trust Co now owns 14,136 shares of the financial services provider’s stock valued at $1,464,000 after buying an additional 1,732 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Brown & Brown by 8.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,378 shares of the financial services provider’s stock worth $4,701,000 after buying an additional 3,581 shares in the last quarter. CreativeOne Wealth LLC boosted its position in shares of Brown & Brown by 8.1% in the third quarter. CreativeOne Wealth LLC now owns 2,748 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 205 shares during the period. Finally, Townsquare Capital LLC grew its stake in Brown & Brown by 4.5% during the third quarter. Townsquare Capital LLC now owns 78,145 shares of the financial services provider’s stock valued at $8,096,000 after acquiring an additional 3,385 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

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.