Brown & Brown, Inc. (NYSE:BRO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Brown & Brown, Inc. (NYSE:BRO) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $113.17.

Several equities analysts recently weighed in on BRO shares. Wells Fargo & Company raised their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada raised their target price on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley initiated coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. Keefe, Bruyette & Woods dropped 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. Finally, Barclays upped their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st.

Brown & Brown Price Performance

Shares of BRO opened at $108.64 on Monday. The business’s fifty day moving average is $104.74 and its 200 day moving average is $104.54. Brown & Brown has a 12-month low of $78.70 and a 12-month high of $114.15. The company has a quick ratio of 1.73, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $31.07 billion, a P/E ratio of 31.40, a P/E/G ratio of 2.75 and a beta of 0.86.

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, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Sell-side analysts anticipate that Brown & Brown will post 4.15 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

Hedge Funds Weigh In On Brown & Brown

Several institutional investors and hedge funds have recently bought and sold shares of BRO. Proficio Capital Partners LLC lifted its position in shares of Brown & Brown by 11,337.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 1,099,199 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Brown & Brown in the 4th quarter valued at about $71,915,000. Zurich Insurance Group Ltd FI lifted its holdings in Brown & Brown by 258.0% during the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after purchasing an additional 465,988 shares during the last quarter. Barclays PLC boosted its position in Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after purchasing an additional 371,980 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in Brown & Brown by 771.5% during the third quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider’s stock worth $43,008,000 after purchasing an additional 367,500 shares during the period. 71.01% of the stock is owned by institutional investors.

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.