Brown & Brown, Inc. (NYSE:BRO) Receives $90.43 Consensus PT from Analysts

Brown & Brown, Inc. (NYSE:BRO) has earned a consensus rating of “Hold” from the eighteen brokerages that are currently covering the company, MarketBeat reports. Fourteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $90.2857.

A number of brokerages have recently issued reports on BRO. Keefe, Bruyette & Woods raised shares of Brown & Brown from an “underperform” rating to a “market perform” rating and reduced their target price for the company from $80.00 to $73.00 in a research report on Thursday, January 29th. Bank of America lowered their price target on shares of Brown & Brown from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 27th. Morgan Stanley dropped their price objective on shares of Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, January 29th. Argus upgraded shares of Brown & Brown to a “hold” rating in a research report on Tuesday, January 27th. Finally, UBS Group reaffirmed a “neutral” rating and set a $81.00 target price (down from $90.00) on shares of Brown & Brown in a report on Thursday, January 29th.

Brown & Brown Price Performance

Shares of NYSE BRO opened at $68.29 on Tuesday. The firm has a market cap of $23.25 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 1.83 and a beta of 0.79. The business’s 50 day moving average is $73.46 and its 200-day moving average is $81.67. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.55. Brown & Brown has a 1-year low of $65.68 and a 1-year high of $125.68.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 35.7% on a year-over-year basis. Equities research analysts predict that Brown & Brown will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s dividend payout ratio (DPR) is 20.63%.

Institutional Trading of Brown & Brown

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in Brown & Brown by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 1,420,814 shares of the financial services provider’s stock worth $133,258,000 after purchasing an additional 51,959 shares during the last quarter. Tandem Investment Advisors Inc. increased its stake in shares of Brown & Brown by 69.7% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 1,385,214 shares of the financial services provider’s stock valued at $129,919,000 after purchasing an additional 569,037 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Brown & Brown by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock worth $3,501,264,000 after buying an additional 1,705,570 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Brown & Brown by 1.1% during the 2nd quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock worth $461,925,000 after buying an additional 46,235 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Brown & Brown by 43.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,600 shares of the financial services provider’s stock worth $4,558,000 after buying an additional 14,678 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

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.