Brown & Brown (NYSE:BRO) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Brown & Brown (NYSE:BRO) from a buy rating to a hold rating in a research note published on Thursday.

Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lifted their target price on shares of Brown & Brown from $86.00 to $92.00 and gave the company an underperform rating in a research report on Friday, July 26th. Bank of America upgraded shares of Brown & Brown from an underperform rating to a neutral rating and lifted their target price for the company from $91.00 to $101.00 in a research report on Wednesday, May 22nd. Wells Fargo & Company lifted their target price on shares of Brown & Brown from $88.00 to $94.00 and gave the company an equal weight rating in a research report on Wednesday, July 24th. Truist Financial lifted their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the company a buy rating in a research report on Wednesday, July 24th. Finally, Raymond James lifted their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the company an outperform rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $97.40.

Brown & Brown Stock Up 0.0 %

BRO opened at $100.32 on Thursday. Brown & Brown has a fifty-two week low of $66.73 and a fifty-two week high of $103.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35. The company has a fifty day moving average of $93.42 and a two-hundred day moving average of $87.36. The stock has a market capitalization of $28.62 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.47 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, research analysts expect that Brown & Brown will post 3.67 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.52 annualized dividend and a yield of 0.52%. Brown & Brown’s payout ratio is 16.00%.

Insider Buying and Selling at Brown & Brown

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares in the company, valued at approximately $8,872,802.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the sale, the executive vice president now directly owns 23,597 shares of the company’s stock, valued at approximately $2,121,842.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the completion of the sale, the chief financial officer now directly owns 88,445 shares in the company, valued at $8,872,802.40. The disclosure for this sale can be found here. 17.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Brown & Brown

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System increased its stake in Brown & Brown by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 267,190 shares of the financial services provider’s stock worth $23,390,000 after buying an additional 6,613 shares during the period. Sei Investments Co. increased its position in shares of Brown & Brown by 12.7% in the 1st quarter. Sei Investments Co. now owns 276,090 shares of the financial services provider’s stock valued at $24,169,000 after purchasing an additional 31,071 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Brown & Brown by 206.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,302 shares of the financial services provider’s stock valued at $1,088,000 after purchasing an additional 10,301 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Brown & Brown by 55.4% in the 4th quarter. Russell Investments Group Ltd. now owns 358,929 shares of the financial services provider’s stock valued at $25,519,000 after purchasing an additional 127,903 shares during the last quarter. Finally, WCM Investment Management LLC increased its position in shares of Brown & Brown by 13.4% in the 4th quarter. WCM Investment Management LLC now owns 107,979 shares of the financial services provider’s stock valued at $7,658,000 after purchasing an additional 12,748 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 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.