Brown & Brown, Inc. (NYSE:BRO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Brown & Brown, Inc. (NYSE:BRO) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $111.67.

Several research analysts recently commented on BRO shares. Barclays lifted their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Bank of America boosted their target price on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their price target on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Argus started coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target for the company.

Brown & Brown Stock Up 1.4 %

NYSE BRO opened at $102.52 on Thursday. The stock has a 50 day moving average price of $106.97 and a 200-day moving average price of $102.62. Brown & Brown has a one year low of $70.99 and a one year high of $114.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market capitalization of $29.32 billion, a P/E ratio of 27.93, a P/E/G ratio of 2.40 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the company posted $0.71 EPS. The business’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts predict that Brown & Brown will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.59%. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

Institutional Trading of Brown & Brown

Large investors have recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in Brown & Brown during the 3rd quarter worth $26,000. ST Germain D J Co. Inc. increased its stake in shares of Brown & Brown by 298.5% during the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after buying an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown in the third quarter valued at about $29,000. Versant Capital Management Inc lifted its stake in Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 234 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Brown & Brown during the 3rd quarter worth about $58,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.