Brown & Brown, Inc. (NYSE:BRO) Receives $76.47 Average Target Price from Analysts

Brown & Brown, Inc. (NYSE:BRO) has received a consensus rating of “Hold” from the nineteen analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $76.4667.

Several equities research analysts have weighed in on BRO shares. The Goldman Sachs Group upped their price target on Brown & Brown from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Truist Financial set a $90.00 price objective on Brown & Brown in a research note on Wednesday, July 29th. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a research report on Friday, June 26th. JPMorgan Chase & Co. upped their target price on shares of Brown & Brown from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $73.00 target price (up from $65.00) on shares of Brown & Brown in a report on Wednesday, July 8th.

Brown & Brown Stock Performance

NYSE:BRO opened at $71.41 on Friday. The company has a fifty day simple moving average of $65.67 and a two-hundred day simple moving average of $65.97. The company has a market cap of $23.89 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. Brown & Brown has a 52 week low of $53.81 and a 52 week high of $98.30.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.71 billion. Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The firm’s revenue was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 earnings per share. As a group, equities analysts anticipate that Brown & Brown will post 4.5 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th will be given a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Brown & Brown’s dividend payout ratio is currently 20.82%.

Institutional Trading of Brown & Brown

A number of institutional investors have recently bought and sold shares of BRO. Vanguard Group Inc. lifted its position in shares of Brown & Brown by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 37,634,847 shares of the financial services provider’s stock worth $2,999,497,000 after buying an additional 303,955 shares during the last quarter. BlackRock Inc. acquired a new stake in Brown & Brown during the 2nd quarter worth $1,418,571,000. Capital World Investors raised its stake in Brown & Brown by 2.3% during the 4th quarter. Capital World Investors now owns 17,886,395 shares of the financial services provider’s stock worth $1,425,546,000 after acquiring an additional 407,006 shares in the last quarter. Principal Financial Group Inc. lifted its position in Brown & Brown by 1.6% in the first quarter. Principal Financial Group Inc. now owns 15,608,720 shares of the financial services provider’s stock valued at $1,017,847,000 after acquiring an additional 246,172 shares during the last quarter. Finally, State Street Corp lifted its position in Brown & Brown by 2.2% in the fourth quarter. State Street Corp now owns 13,403,814 shares of the financial services provider’s stock valued at $1,068,284,000 after acquiring an additional 282,988 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.