Brown & Brown, Inc. (NYSE:BRO) Receives $97.40 Average PT from Analysts

Shares of Brown & Brown, Inc. (NYSE:BRO) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $99.20.

A number of research analysts have weighed in on the company. UBS Group increased their price target on Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company raised shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $94.00 to $112.00 in a research note on Monday, August 12th. Truist Financial raised their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $91.00 to $101.00 in a research report on Wednesday, May 22nd.

Brown & Brown Trading Up 0.7 %

Brown & Brown stock opened at $101.87 on Monday. The stock has a market cap of $29.06 billion, a PE ratio of 31.34, a P/E/G ratio of 2.35 and a beta of 0.82. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $94.53 and a 200 day moving average price of $88.18. Brown & Brown has a 52 week low of $66.73 and a 52 week high of $103.16.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business posted $0.68 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. Equities research analysts predict that Brown & Brown will post 3.68 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Wednesday, August 7th. Brown & Brown’s payout ratio is currently 16.00%.

Insider Activity at Brown & Brown

In related news, CFO R. Andrew Watts sold 2,500 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the completion of the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the transaction, the executive vice president now directly owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at $8,872,802.40. The disclosure for this sale can be found here. Company insiders own 17.02% of the company’s stock.

Hedge Funds Weigh In On Brown & Brown

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crewe Advisors LLC lifted its stake in shares of Brown & Brown by 330.4% in the second quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 228 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Brown & Brown in the 1st quarter valued at approximately $32,000. Alaska Permanent Fund Corp purchased a new position in shares of Brown & Brown during the 1st quarter valued at approximately $36,000. First PREMIER Bank acquired a new stake in shares of Brown & Brown during the first quarter worth approximately $40,000. Finally, Intelligent Financial Strategies bought a new stake in shares of Brown & Brown in the first quarter worth $45,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Company Profile

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.