Shares of Brown & Brown, Inc. (NYSE:BRO) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $29.00.
A number of research analysts have issued reports on BRO shares. Morgan Stanley increased their target price on shares of Brown & Brown from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, August 14th. Citigroup set a $27.00 target price on shares of Brown & Brown and gave the company a “sell” rating in a report on Wednesday, September 19th. Zacks Investment Research raised shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Tuesday, September 25th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $28.00 target price on shares of Brown & Brown in a report on Monday, October 22nd. Finally, Barclays increased their target price on shares of Brown & Brown from $23.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, November 12th.
In other news, EVP Anthony T. Strianese sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $28.66, for a total transaction of $57,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 17.12% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of BRO. Bruderman Asset Management LLC purchased a new position in shares of Brown & Brown during the 2nd quarter worth approximately $117,000. Itau Unibanco Holding S.A. purchased a new position in shares of Brown & Brown during the 2nd quarter worth approximately $144,000. Virtu Financial LLC purchased a new position in shares of Brown & Brown during the 3rd quarter worth approximately $215,000. PEAK6 Investments LLC purchased a new position in shares of Brown & Brown during the 3rd quarter worth approximately $217,000. Finally, SRS Capital Advisors Inc. purchased a new position in shares of Brown & Brown during the 3rd quarter worth approximately $221,000. 71.58% of the stock is owned by institutional investors and hedge funds.
NYSE:BRO traded down $0.44 during mid-day trading on Friday, reaching $27.48. The stock had a trading volume of 612,202 shares, compared to its average volume of 755,858. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The company has a market cap of $7.98 billion, a P/E ratio of 28.63, a PEG ratio of 2.31 and a beta of 0.75. Brown & Brown has a twelve month low of $24.34 and a twelve month high of $31.55.
Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.04. The firm had revenue of $530.90 million during the quarter, compared to the consensus estimate of $508.82 million. Brown & Brown had a net margin of 23.15% and a return on equity of 12.36%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. Analysts expect that Brown & Brown will post 1.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 7th. Stockholders of record on Friday, October 26th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, October 25th. Brown & Brown’s dividend payout ratio (DPR) is 33.33%.
Brown & Brown Company Profile
Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.
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