Brown & Brown (NYSE:BRO) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Brown & Brown (NYSE:BROFree Report) from a hold rating to a buy rating in a research note released on Sunday morning.

A number of other equities analysts have also weighed in on BRO. Wells Fargo & Company increased their price target on Brown & Brown from $72.00 to $81.00 and gave the company an equal weight rating in a research report on Wednesday, January 24th. The Goldman Sachs Group upgraded Brown & Brown from a neutral rating to a buy rating and decreased their price objective for the stock from $84.00 to $83.00 in a research report on Monday, January 8th. Raymond James raised their price objective on Brown & Brown from $80.00 to $90.00 and gave the stock an outperform rating in a research report on Wednesday, January 24th. UBS Group raised their price objective on Brown & Brown from $75.00 to $81.00 and gave the stock a neutral rating in a research report on Monday, January 29th. Finally, Jefferies Financial Group lowered Brown & Brown from a buy rating to a hold rating and decreased their price objective for the stock from $85.00 to $78.00 in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $83.60.

View Our Latest Report on BRO

Brown & Brown Price Performance

Shares of NYSE BRO opened at $84.94 on Friday. Brown & Brown has a 1-year low of $53.14 and a 1-year high of $86.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.95 and a quick ratio of 1.95. The business’s fifty day moving average price is $80.08 and its two-hundred day moving average price is $74.68. The firm has a market capitalization of $24.28 billion, a PE ratio of 27.76, a P/E/G ratio of 3.03 and a beta of 0.78.

Brown & Brown (NYSE:BROGet Free Report) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. The firm had revenue of $1.03 billion for the quarter. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. During the same period in the prior year, the business earned $0.50 earnings per share. On average, research analysts expect that Brown & Brown will post 3.2 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Friday, February 2nd were issued a $0.13 dividend. The ex-dividend date was Thursday, February 1st. This represents a $0.52 dividend on an annualized basis and a yield of 0.61%. Brown & Brown’s dividend payout ratio is presently 16.99%.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the sale, the chairman now owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 17.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BRO. Group One Trading L.P. acquired a new position in shares of Brown & Brown during the first quarter worth about $201,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Brown & Brown by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,373 shares of the financial services provider’s stock worth $2,267,000 after buying an additional 1,950 shares during the period. Cibc World Market Inc. acquired a new position in shares of Brown & Brown during the first quarter worth about $354,000. Vontobel Holding Ltd. raised its holdings in Brown & Brown by 37.1% during the first quarter. Vontobel Holding Ltd. now owns 5,550 shares of the financial services provider’s stock worth $404,000 after acquiring an additional 1,502 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Brown & Brown by 608.0% during the first quarter. Sei Investments Co. now owns 43,409 shares of the financial services provider’s stock worth $3,135,000 after acquiring an additional 37,278 shares in the last quarter. 70.33% of the stock is owned by institutional investors and hedge funds.

About Brown & Brown

(Get Free Report)

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.

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Analyst Recommendations for Brown & Brown (NYSE:BRO)

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