UBS Group Raises Brown & Brown (NYSE:BRO) Price Target to $120.00

Brown & Brown (NYSE:BRO) had its target price lifted by UBS Group from $110.00 to $120.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on BRO. Keefe, Bruyette & Woods upped their price objective on shares of Brown & Brown from $97.00 to $102.00 and gave the company an “underperform” rating in a report on Wednesday. Royal Bank of Canada increased their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and set a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. Bank of America upped their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company raised their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Brown & Brown has an average rating of “Hold” and a consensus target price of $115.83.

Brown & Brown Price Performance

Brown & Brown stock opened at $118.88 on Wednesday. The company has a fifty day simple moving average of $116.13 and a 200-day simple moving average of $109.48. The firm has a market capitalization of $33.99 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.93 and a beta of 0.75. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown has a 52-week low of $80.33 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data 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%. On average, equities analysts anticipate that Brown & Brown will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.50%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

Hedge Funds Weigh In On Brown & Brown

Several institutional investors have recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Brown & Brown in the fourth quarter valued at approximately $28,000. Johnson Financial Group Inc. lifted its holdings in Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock worth $29,000 after buying an additional 235 shares in the last quarter. Y.D. More Investments Ltd boosted its position in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after buying an additional 162 shares during the period. R Squared Ltd purchased a new position in Brown & Brown in the 4th quarter valued at approximately $31,000. Finally, Sunbelt Securities Inc. grew its stake in shares of Brown & Brown by 581.8% in the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 256 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

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.