Brown & Brown (NYSE:BRO) Price Target Raised to $117.00 at Bank of America

Brown & Brown (NYSE:BRO) had its price target hoisted by Bank of America from $116.00 to $117.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts have also recently commented on BRO. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Barclays raised their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods decreased their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Truist Financial raised their target price on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $112.08.

Brown & Brown Stock Performance

NYSE:BRO opened at $104.98 on Tuesday. The company has a market capitalization of $30.02 billion, a P/E ratio of 28.61, a P/E/G ratio of 2.12 and a beta of 0.85. The business has a fifty day simple moving average of $105.63 and a two-hundred day simple moving average of $104.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. Brown & Brown has a 1 year low of $75.79 and a 1 year high of $114.15.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. On average, analysts expect that Brown & Brown will post 3.74 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be given a $0.15 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.57%. Brown & Brown’s dividend payout ratio (DPR) is presently 16.35%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BRO. Studio Investment Management LLC grew its position in Brown & Brown by 1.5% during the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after buying an additional 96 shares during the period. Journey Strategic Wealth LLC boosted its stake in shares of Brown & Brown by 2.3% during the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 99 shares during the last quarter. Trust Point Inc. grew its position in shares of Brown & Brown by 4.3% during the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 103 shares during the period. CWA Asset Management Group LLC increased its stake in shares of Brown & Brown by 3.7% in the 4th quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 103 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its stake in shares of Brown & Brown by 3.4% in the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.