Wells Fargo & Co reaffirmed their hold rating on shares of Brown & Brown (NYSE:BRO) in a research note published on Monday, January 22nd. They currently have a $52.00 price target on the financial services provider’s stock.
BRO has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Brown & Brown from a buy rating to a hold rating in a report on Monday, October 30th. Morgan Stanley upped their price objective on shares of Brown & Brown from $40.00 to $43.00 and gave the company an underweight rating in a research note on Wednesday, October 18th. SunTrust Banks raised shares of Brown & Brown from a hold rating to a buy rating in a research note on Wednesday, December 6th. Barclays increased their price target on shares of Brown & Brown from $39.00 to $43.00 and gave the stock an underweight rating in a research report on Monday, October 16th. Finally, Citigroup downgraded Brown & Brown from a neutral rating to a sell rating and set a $47.00 price objective on the stock. in a report on Wednesday, November 8th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $48.63.
Brown & Brown (NYSE BRO) traded up $0.22 on Monday, reaching $51.78. 139,599 shares of the company traded hands, compared to its average volume of 750,298. The company has a quick ratio of 0.97, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. Brown & Brown has a 1 year low of $41.10 and a 1 year high of $53.77. The firm has a market capitalization of $7,190.00, a PE ratio of 26.85, a PEG ratio of 2.14 and a beta of 0.73.
Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 22nd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. The firm had revenue of $474.30 million during the quarter, compared to analyst estimates of $449.89 million. Brown & Brown had a net margin of 21.24% and a return on equity of 11.19%. Brown & Brown’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. sell-side analysts predict that Brown & Brown will post 2.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Friday, February 2nd will be given a $0.15 dividend. The ex-dividend date is Thursday, February 1st. This represents a $0.60 annualized dividend and a yield of 1.16%. Brown & Brown’s dividend payout ratio (DPR) is currently 31.25%.
A number of hedge funds have recently modified their holdings of the stock. Rowland & Co. Investment Counsel ADV lifted its position in Brown & Brown by 4.1% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 4,465 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 175 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Brown & Brown by 1.7% during the second quarter. Ameritas Investment Partners Inc. now owns 34,420 shares of the financial services provider’s stock valued at $1,482,000 after acquiring an additional 582 shares during the period. Citigroup Inc. lifted its holdings in shares of Brown & Brown by 1.9% during the second quarter. Citigroup Inc. now owns 51,761 shares of the financial services provider’s stock valued at $2,229,000 after acquiring an additional 942 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in shares of Brown & Brown by 0.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 127,590 shares of the financial services provider’s stock valued at $6,566,000 after acquiring an additional 1,008 shares during the period. Finally, Altrinsic Global Advisors LLC lifted its holdings in shares of Brown & Brown by 6.3% during the fourth quarter. Altrinsic Global Advisors LLC now owns 19,583 shares of the financial services provider’s stock valued at $1,008,000 after acquiring an additional 1,165 shares during the period. 72.63% of the stock is owned by hedge funds and other institutional investors.
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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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