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

Brown & Brown, Inc. (NYSE:BRO) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $112.67.

BRO has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Bank of America upped 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. Morgan Stanley restated an “equal weight” rating and set a $128.00 target price on shares of Brown & Brown in a research report on Tuesday, March 25th. Royal Bank of Canada upped their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, 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 report on Friday, January 10th.

Institutional Trading of Brown & Brown

Several large investors have recently bought and sold shares of the business. Mogy Joel R Investment Counsel Inc. boosted its holdings in shares of Brown & Brown by 324.3% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after purchasing an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in Brown & Brown by 4.4% during the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after buying an additional 6,805 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Brown & Brown by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after buying an additional 40,881 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Brown & Brown by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock worth $31,055,000 after acquiring an additional 50,510 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Brown & Brown by 47.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 168,838 shares of the financial services provider’s stock worth $17,225,000 after acquiring an additional 54,246 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

NYSE:BRO opened at $124.53 on Tuesday. The firm’s fifty day moving average is $113.71 and its two-hundred day moving average is $108.52. The firm has a market cap of $35.61 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown has a one year low of $80.33 and a one year high of $124.97.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping 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%. Research analysts expect that Brown & Brown will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 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.