Brown & Brown, Inc. (NYSE:BRO) Receives $84.27 Average Price Target from Brokerages

Brown & Brown, Inc. (NYSE:BRO) has received an average rating of “Hold” from the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. Fifteen analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $83.00.

A number of equities research analysts have issued reports on the company. UBS Group reiterated a “neutral” rating and issued a $81.00 target price (down from $90.00) on shares of Brown & Brown in a research note on Thursday, January 29th. The Goldman Sachs Group cut their target price on Brown & Brown from $82.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. BMO Capital Markets cut their target price on Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research note on Thursday, January 29th. Royal Bank Of Canada cut their target price on Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 29th. Finally, Argus raised shares of Brown & Brown to a “hold” rating in a report on Tuesday, January 27th.

Brown & Brown Stock Performance

BRO stock opened at $57.52 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market capitalization of $19.49 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.66 and a beta of 0.66. Brown & Brown has a 1 year low of $56.96 and a 1 year high of $113.83. The stock’s fifty day moving average is $67.35 and its two-hundred day moving average is $74.65.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The firm’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same period last year, the business posted $1.29 earnings per share. On average, research analysts predict that Brown & Brown will post 4.51 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Monday, May 11th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $0.66 annualized dividend and a yield of 1.1%. Brown & Brown’s dividend payout ratio is presently 21.22%.

Institutional Investors Weigh In On Brown & Brown

Institutional investors have recently bought and sold shares of the stock. Union Bancaire Privee UBP SA acquired a new stake in Brown & Brown in the first quarter worth about $25,000. Cornerstone Planning Group LLC lifted its holdings in Brown & Brown by 423.1% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 220 shares during the period. Basepoint Wealth LLC acquired a new stake in Brown & Brown in the fourth quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in Brown & Brown in the second quarter worth about $30,000. Finally, DV Equities LLC acquired a new stake in Brown & Brown in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Company Profile

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.