Brown & Brown, Inc. (NYSE:BRO) Stock Rated “Hold” by Wall Street Brokerages

Brown & Brown, Inc. (NYSE:BRO) has earned a consensus recommendation of “Hold” from the nineteen brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $76.80.

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Brown & Brown in a report on Wednesday, July 29th. Mizuho lowered their price target on Brown & Brown from $86.00 to $83.00 and set an “outperform” rating on the stock in a report on Wednesday, September 16th. Morgan Stanley restated an “underweight” rating and issued a $60.00 price target (up from $56.00) on shares of Brown & Brown in a research report on Wednesday, August 19th. Barclays upped their price objective on Brown & Brown from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Brown & Brown in a research report on Friday, June 26th.

Brown & Brown Stock Performance

Shares of BRO opened at $59.95 on Friday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58. The firm has a market cap of $20.06 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.90 and a beta of 0.60. The company’s 50 day simple moving average is $68.72 and its 200-day simple moving average is $65.08. Brown & Brown has a 12-month low of $53.81 and a 12-month high of $96.55.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. As a group, equities analysts predict that Brown & Brown will post 4.5 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 12th were issued a dividend of $0.1650 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.66 annualized dividend and a dividend yield of 1.1%. Brown & Brown’s dividend payout ratio (DPR) is currently 20.82%.

Hedge Funds Weigh In On Brown & Brown

Several institutional investors have recently bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new stake in shares of Brown & Brown in the 1st quarter worth $25,000. Basepoint Wealth LLC purchased a new stake in shares of Brown & Brown in the fourth quarter valued at about $27,000. Continuum Advisory LLC acquired a new position in shares of Brown & Brown during the second quarter worth about $34,000. Allied Private Wealth LLC acquired a new position in shares of Brown & Brown during the second quarter worth about $35,000. Finally, Johnson Financial Group Inc. acquired a new position in shares of Brown & Brown during the second quarter worth about $37,000. 71.01% of the stock is owned by institutional investors and hedge funds.

About Brown & Brown

Brown & Brown, Inc is an independent insurance brokerage, risk management and employee benefits firm headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance placement, risk consulting and related services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialized insurance programs. Brown & Brown also operates wholesale brokerage businesses that provide coverage solutions and access to insurance markets for retail agents and brokers, including products designed for specialty and hard-to-place risks.

Founded in 1939 by J.