Brown & Brown, Inc. (NYSE:BRO) Receives Average Rating of “Hold” from Brokerages

Shares of Brown & Brown, Inc. (NYSE:BROGet Free Report) have earned a consensus rating of “Hold” from the nineteen analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $78.6250.

A number of analysts have commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Brown & Brown from $72.00 to $74.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Barclays upped their target price on Brown & Brown from $72.00 to $76.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Truist Financial decreased their target price on Brown & Brown from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Citizens Jmp lifted their target price on Brown & Brown from $70.00 to $78.00 and gave the stock a “market outperform” rating in a report on Friday, July 10th. Finally, Morgan Stanley lowered Brown & Brown from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $60.00 to $55.00 in a research note on Monday, July 6th.

Read Our Latest Analysis on BRO

Insider Buying and Selling at Brown & Brown

In related news, Director H Palmer Proctor, Jr. acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were purchased at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the completion of the acquisition, the director owned 47,621 shares of the company’s stock, valued at approximately $2,719,159.10. This trade represents a 4.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Brown & Brown by 38.3% during the first quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock worth $4,132,000 after buying an additional 9,264 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Brown & Brown by 5.2% during the first quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock valued at $1,387,000 after buying an additional 547 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Brown & Brown by 1,824.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 53,103 shares of the financial services provider’s stock worth $5,888,000 after acquiring an additional 50,344 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Brown & Brown by 27.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 223 shares in the last quarter. Finally, Cary Street Partners Financial LLC raised its holdings in shares of Brown & Brown by 60.9% in the 2nd quarter. Cary Street Partners Financial LLC now owns 933 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 353 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Price Performance

Brown & Brown stock opened at $69.29 on Monday. The stock’s 50 day moving average is $61.14 and its 200 day moving average is $67.19. Brown & Brown has a one year low of $53.81 and a one year high of $104.97. The firm has a market cap of $23.49 billion, a P/E ratio of 22.28, a P/E/G ratio of 3.21 and a beta of 0.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.64.

Brown & Brown (NYSE:BROGet Free Report) last posted its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm posted $1.29 EPS. The company’s quarterly revenue was up 35.4% on a year-over-year basis. As a group, research analysts expect that Brown & Brown will post 4.5 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, May 11th. Brown & Brown’s dividend payout ratio (DPR) is presently 21.22%.

About Brown & Brown

(Get Free Report)

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.

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Analyst Recommendations for Brown & Brown (NYSE:BRO)

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