Brown & Brown, Inc. (NYSE:BRO) Receives $117.50 Consensus Price Target from Brokerages

Brown & Brown, Inc. (NYSE:BRO) has been given an average recommendation of “Hold” by the thirteen research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $117.50.

BRO has been the topic of several recent analyst reports. UBS Group lifted their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 9th. Truist Financial upped their price objective on Brown & Brown from $118.00 to $138.00 and gave the stock a “buy” rating in a research report on Tuesday, April 15th. Wells Fargo & Company boosted their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada raised their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Barclays lifted their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, April 11th.

Brown & Brown Stock Performance

BRO stock opened at $113.58 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown has a fifty-two week low of $80.87 and a fifty-two week high of $125.68. The stock has a market capitalization of $32.48 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The company has a 50 day moving average price of $117.53 and a 200 day moving average price of $110.19.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Analysts forecast that Brown & Brown will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Institutional Trading of Brown & Brown

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Brown & Brown by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock worth $3,054,493,000 after buying an additional 1,335,964 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Brown & Brown by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock worth $1,316,259,000 after acquiring an additional 94,121 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Brown & Brown by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider’s stock worth $620,737,000 after purchasing an additional 118,569 shares during the period. Capital World Investors lifted its holdings in Brown & Brown by 15.6% in the fourth quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider’s stock valued at $428,043,000 after buying an additional 566,116 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Brown & Brown by 11.4% during the 4th quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider’s stock valued at $388,045,000 after purchasing an additional 388,411 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.