Brown & Brown, Inc. (NYSE:BRO) Given Consensus Recommendation of “Hold” by Analysts

Brown & Brown, Inc. (NYSE:BRO) has received an average rating of “Hold” from the eleven analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $100.00.

A number of research firms recently issued reports on BRO. Citigroup lifted their price target on shares of Brown & Brown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Truist Financial boosted their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised shares of Brown & Brown from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $94.00 to $112.00 in a research note on Monday, August 12th. Keefe, Bruyette & Woods lifted their price objective on Brown & Brown from $86.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their target price on Brown & Brown from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th.

Brown & Brown Stock Down 1.1 %

BRO stock opened at $104.61 on Friday. The firm’s fifty day moving average is $98.04 and its 200 day moving average is $90.38. The firm has a market cap of $29.84 billion, a PE ratio of 32.19, a P/E/G ratio of 2.44 and a beta of 0.83. Brown & Brown has a one year low of $66.73 and a one year high of $106.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35.

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

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 annualized dividend and a dividend yield of 0.50%. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.

Insiders Place Their Bets

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Brown & Brown news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total transaction of $14,071,226.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The disclosure for this sale can be found here. 17.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BRO. Oregon Public Employees Retirement Fund increased its stake in Brown & Brown by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock valued at $1,819,000 after purchasing an additional 100 shares during the last quarter. State of Alaska Department of Revenue increased its position in Brown & Brown by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock worth $2,243,000 after buying an additional 125 shares during the period. Copperwynd Financial LLC boosted its holdings in shares of Brown & Brown by 4.8% in the second quarter. Copperwynd Financial LLC now owns 2,772 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 126 shares during the period. Studio Investment Management LLC grew its position in shares of Brown & Brown by 2.1% during the second quarter. Studio Investment Management LLC now owns 6,417 shares of the financial services provider’s stock worth $574,000 after acquiring an additional 130 shares during the last quarter. Finally, Simplicity Wealth LLC boosted its stake in Brown & Brown by 5.6% during the 2nd quarter. Simplicity Wealth LLC now owns 2,505 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Brown & Brown

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.