Brown & Brown (NYSE:BRO) Given New $120.00 Price Target at Royal Bank of Canada

Brown & Brown (NYSE:BRO) had its price objective lifted by Royal Bank of Canada from $118.00 to $120.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

BRO has been the subject of several other research reports. Morgan Stanley assumed coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. Jefferies Financial Group upped their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Barclays lifted their price target on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Stock Down 1.6 %

Shares of NYSE:BRO opened at $103.38 on Wednesday. The business’s 50 day moving average is $105.51 and its 200 day moving average is $104.08. The stock has a market cap of $29.56 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. Brown & Brown has a 52-week low of $75.79 and a 52-week high of $114.15. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. Sell-side analysts predict that Brown & Brown will post 3.74 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 16.35%.

Institutional Trading of Brown & Brown

Several large investors have recently added to or reduced their stakes in BRO. Brooklyn Investment Group purchased a new stake in Brown & Brown in the third quarter valued at approximately $26,000. ST Germain D J Co. Inc. boosted its holdings in shares of Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Brown & Brown in the third quarter worth $29,000. Y.D. More Investments Ltd raised its holdings in shares of Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 162 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Brown & Brown during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Brown & Brown

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.