Shares of Brown & Brown, Inc. (NYSE:BRO) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $32.00.
BRO has been the topic of a number of recent research reports. SunTrust Banks increased their price target on Brown & Brown to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Raymond James increased their price target on Brown & Brown from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Co reissued a “hold” rating and set a $28.00 price target on shares of Brown & Brown in a research report on Sunday, April 21st. ValuEngine downgraded Brown & Brown from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley increased their price target on Brown & Brown from $30.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, July 25th.
In related news, Director H Palmer Proctor, Jr. acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were bought at an average price of $35.96 per share, with a total value of $179,800.00. Following the completion of the transaction, the director now directly owns 29,353 shares in the company, valued at $1,055,533.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.69% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Brown & Brown by 0.5% in the second quarter. Vanguard Group Inc. now owns 25,323,901 shares of the financial services provider’s stock worth $848,351,000 after acquiring an additional 116,551 shares in the last quarter. BlackRock Inc. raised its stake in shares of Brown & Brown by 0.7% in the second quarter. BlackRock Inc. now owns 21,812,309 shares of the financial services provider’s stock worth $730,712,000 after purchasing an additional 160,163 shares during the last quarter. Clarkston Capital Partners LLC raised its stake in shares of Brown & Brown by 1.0% in the first quarter. Clarkston Capital Partners LLC now owns 4,899,516 shares of the financial services provider’s stock worth $144,585,000 after purchasing an additional 47,381 shares during the last quarter. NN Investment Partners Holdings N.V. raised its stake in shares of Brown & Brown by 3.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 4,226,161 shares of the financial services provider’s stock worth $141,576,000 after purchasing an additional 145,025 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Brown & Brown by 0.8% in the second quarter. Citadel Advisors LLC now owns 2,892,282 shares of the financial services provider’s stock worth $96,892,000 after purchasing an additional 22,206 shares during the last quarter. 70.24% of the stock is currently owned by institutional investors.
BRO stock traded up $0.39 during midday trading on Wednesday, reaching $36.47. The company’s stock had a trading volume of 26,738 shares, compared to its average volume of 1,235,698. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a fifty day simple moving average of $35.38 and a two-hundred day simple moving average of $31.79. Brown & Brown has a 1 year low of $25.72 and a 1 year high of $36.91. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 2.56 and a beta of 0.72.
Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Brown & Brown had a return on equity of 12.64% and a net margin of 17.28%. The business had revenue of $575.20 million for the quarter, compared to analyst estimates of $554.35 million. During the same quarter last year, the firm posted $0.26 earnings per share. The business’s revenue was up 21.6% compared to the same quarter last year. As a group, analysts forecast that Brown & Brown will post 1.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, August 6th. Brown & Brown’s payout ratio is currently 26.02%.
About Brown & Brown
Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.
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