Brown & Brown, Inc. (NYSE:BRO) Receives Consensus Rating of "Hold" from Analysts

Brown & Brown, Inc. (NYSE:BRO - Get Free Report) has earned an average recommendation of "Hold" from the fourteen analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $118.85.

BRO has been the topic of a number of research analyst reports. Edward Jones began coverage on Brown & Brown in a report on Wednesday, April 16th. They issued a "buy" rating on the stock. Jefferies Financial Group upped their price objective on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. The Goldman Sachs Group lowered Brown & Brown from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $126.00 to $119.00 in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods lifted their target price on Brown & Brown from $100.00 to $102.00 and gave the company an "underperform" rating in a research report on Friday, June 13th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th.

Hedge Funds Weigh In On Brown & Brown

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Brown & Brown during the first quarter worth $1,234,000. Voya Investment Management LLC increased its holdings in Brown & Brown by 22.3% in the first quarter. Voya Investment Management LLC now owns 204,438 shares of the financial services provider's stock valued at $25,432,000 after purchasing an additional 37,240 shares during the period. Howe & Rusling Inc. bought a new position in Brown & Brown during the 1st quarter worth $200,000. eCIO Inc. acquired a new position in Brown & Brown during the 1st quarter worth about $184,000. Finally, Cim LLC lifted its holdings in Brown & Brown by 76.6% during the 1st quarter. Cim LLC now owns 25,495 shares of the financial services provider's stock worth $3,172,000 after buying an additional 11,059 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Trading Down 1.0%

Shares of Brown & Brown stock opened at $107.84 on Thursday. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.55. Brown & Brown has a 12-month low of $88.94 and a 12-month high of $125.68. The company has a market capitalization of $30.92 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.39 and a beta of 0.82. The firm's 50-day moving average price is $110.24 and its two-hundred day moving average price is $111.10.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The business's revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. On average, analysts forecast that Brown & Brown will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.56%. Brown & Brown's dividend payout ratio is presently 16.71%.

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.

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