Barclays Issues Positive Forecast for Brown & Brown (NYSE:BRO) Stock Price

Brown & Brown (NYSE:BRO) had its target price increased by Barclays from $108.00 to $119.00 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

BRO has been the topic of several other reports. Truist Financial upped their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their target price on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their price target on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their price objective on Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.42.

Brown & Brown Trading Up 1.2 %

Brown & Brown stock opened at $112.05 on Thursday. The company has a market cap of $32.04 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 2.55 and a beta of 0.82. The firm has a 50-day moving average of $106.16 and a 200-day moving average of $98.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. Brown & Brown has a one year low of $69.13 and a one year high of $114.08.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. On average, equities analysts expect that Brown & Brown will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a $0.15 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is currently 16.35%.

Insider Transactions at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $104.51, for a total transaction of $14,071,226.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BRO. Studio Investment Management LLC raised its holdings in shares of Brown & Brown by 1.5% during the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock worth $675,000 after buying an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Brown & Brown by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after purchasing an additional 100 shares during the last quarter. Trust Point Inc. increased its stake in shares of Brown & Brown by 4.3% in the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after buying an additional 103 shares during the period. Creative Planning raised its holdings in Brown & Brown by 0.4% in the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after buying an additional 112 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in Brown & Brown by 0.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock worth $2,375,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds 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.