Brown & Brown, Inc. (NYSE:BRO) Given Consensus Recommendation of "Hold" by Analysts

Brown & Brown, Inc. (NYSE:BRO - Get Free Report) has received a consensus recommendation of "Hold" from the thirteen brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $118.25.

A number of equities research analysts have recently weighed in on BRO shares. Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a research note on Monday, May 5th. Barclays lifted their price objective on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. The Goldman Sachs Group cut Brown & Brown from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $126.00 to $119.00 in a research note on Tuesday, May 13th. Edward Jones started coverage on Brown & Brown in a research note on Wednesday, April 16th. They issued a "buy" rating for the company. Finally, Truist Financial dropped their price objective on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th.

Brown & Brown Price Performance

BRO stock opened at $110.65 on Friday. The business has a fifty day moving average of $113.53 and a two-hundred day moving average of $111.27. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $31.71 billion, a price-to-earnings ratio of 31.98, a price-to-earnings-growth ratio of 2.93 and a beta of 0.84. Brown & Brown has a 52-week low of $88.31 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Brown & Brown's revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. As a group, research analysts anticipate that Brown & Brown will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is 16.71%.

Institutional Trading of Brown & Brown

Several institutional investors and hedge funds have recently made changes to their positions in BRO. Parnassus Investments LLC purchased a new stake in shares of Brown & Brown in the 1st quarter valued at about $899,139,000. Norges Bank purchased a new stake in shares of Brown & Brown in the 4th quarter valued at about $313,412,000. First Trust Advisors LP lifted its holdings in shares of Brown & Brown by 626.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock valued at $239,751,000 after purchasing an additional 2,026,589 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of Brown & Brown in the 4th quarter valued at about $198,031,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after purchasing an additional 1,335,964 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Company Profile

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.

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