Brown & Brown, Inc. (BRO) Receives Average Recommendation of “Hold” from Analysts
Brown & Brown, Inc. (NYSE:BRO) has earned an average rating of “Hold” from the ten research firms that are currently covering the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $40.67.
Several brokerages have recently weighed in on BRO. Langen Mcalenn reissued a “buy” rating on shares of Brown & Brown in a research report on Friday, December 30th. Barclays PLC restated a “sell” rating and issued a $39.00 price objective on shares of Brown & Brown in a report on Monday, January 9th. Wells Fargo & Co restated a “hold” rating on shares of Brown & Brown in a report on Monday, February 27th. Zacks Investment Research lowered shares of Brown & Brown from a “hold” rating to a “sell” rating in a report on Tuesday, March 21st. Finally, Citigroup Inc cut their price target on shares of Brown & Brown from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, April 7th.
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Shares of Brown & Brown (NYSE:BRO) traded down 0.72% on Monday, reaching $42.48. 380,364 shares of the company’s stock traded hands. Brown & Brown has a 52-week low of $34.27 and a 52-week high of $45.77. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 23.34 and a beta of 0.73. The firm’s 50-day moving average is $42.52 and its 200-day moving average is $41.94.
Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, April 17th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.01. The firm had revenue of $465.10 million for the quarter, compared to analysts’ expectations of $443.76 million. Brown & Brown had a net margin of 14.57% and a return on equity of 11.57%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. Analysts anticipate that Brown & Brown will post $1.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 17th. Investors of record on Monday, May 8th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, May 4th. Brown & Brown’s dividend payout ratio (DPR) is 29.67%.
A number of institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Brown & Brown during the fourth quarter worth about $55,514,000. Capital Returns Management LLC purchased a new stake in Brown & Brown during the fourth quarter valued at $20,501,000. Wells Fargo & Company MN increased its stake in Brown & Brown by 5.3% in the third quarter. Wells Fargo & Company MN now owns 5,145,479 shares of the financial services provider’s stock valued at $194,036,000 after buying an additional 259,651 shares during the last quarter. Gillson Capital LP purchased a new stake in Brown & Brown during the fourth quarter valued at $9,562,000. Finally, Tandem Investment Advisors Inc. purchased a new stake in Brown & Brown during the fourth quarter valued at $8,380,000. 72.27% of the stock is owned by hedge funds and other institutional investors.
About Brown & Brown
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.
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