Analysts Set Brown & Brown, Inc. (NYSE:BRO) PT at $113.17

Brown & Brown, Inc. (NYSE:BRO) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $113.17.

A number of research firms recently weighed in on BRO. Bank of America increased their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Barclays increased their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada increased their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Finally, Wells Fargo & Company increased their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th.

Hedge Funds Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Brown & Brown by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock valued at $3,054,493,000 after purchasing an additional 1,335,964 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Brown & Brown by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock valued at $1,316,259,000 after purchasing an additional 94,121 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Brown & Brown by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider’s stock valued at $620,737,000 after purchasing an additional 118,569 shares in the last quarter. Capital World Investors boosted its stake in shares of Brown & Brown by 15.6% during the fourth quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider’s stock valued at $428,043,000 after purchasing an additional 566,116 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Brown & Brown by 11.4% during the fourth quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider’s stock valued at $388,045,000 after purchasing an additional 388,411 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Down 0.5 %

Shares of NYSE:BRO opened at $119.30 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown has a 12 month low of $80.33 and a 12 month high of $120.61. The company has a 50-day moving average price of $106.89 and a 200 day moving average price of $106.20. The company has a market cap of $34.11 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, equities research analysts predict that Brown & Brown will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 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.