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

Key Points

• Brown & Brown, Inc. has received a consensus recommendation of "Hold" from 15 research firms, with one analyst issuing a sell recommendation, seven a hold, and seven a buy.
• The company recently reported $1.03 earnings per share, exceeding analysts' expectations and showing a 9.1% revenue increase year-over-year.
• Brown & Brown declared a quarterly dividend of $0.15 per share, resulting in an annualized dividend yield of 0.7%.

Brown & Brown, Inc. (NYSE:BRO - Get Free Report) has received a consensus recommendation of "Hold" from the fifteen research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $112.6429.

A number of brokerages have recently issued reports on BRO. Bank of America raised Brown & Brown from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $126.00 to $130.00 in a research note on Wednesday, July 30th. Wall Street Zen lowered Brown & Brown from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Raymond James Financial reaffirmed an "outperform" rating and issued a $120.00 target price (down from $125.00) on shares of Brown & Brown in a research report on Monday, August 4th. Wells Fargo & Company lowered Brown & Brown from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $104.00 to $101.00 in a research report on Wednesday, August 13th. Finally, Morgan Stanley decreased their target price on Brown & Brown from $109.00 to $105.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th.

Insider Transactions at Brown & Brown

In other news, Director Bronislaw Edmund Masojada bought 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $91.44 per share, with a total value of $91,440.00. Following the transaction, the director directly owned 5,000 shares of the company's stock, valued at approximately $457,200. This represents a 25.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Krump acquired 2,678 shares of the firm's stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $93.31 per share, with a total value of $249,884.18. Following the completion of the acquisition, the director directly owned 5,353 shares in the company, valued at approximately $499,488.43. This represents a 100.11% increase in their position. The disclosure for this purchase can be found here. Insiders own 15.59% of the company's stock.

Institutional Trading of Brown & Brown

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bares Capital Management Inc. bought a new stake in Brown & Brown during the 1st quarter worth approximately $26,000. Optimum Investment Advisors purchased a new position in shares of Brown & Brown in the 1st quarter worth approximately $31,000. SouthState Corp boosted its stake in shares of Brown & Brown by 188.6% in the 1st quarter. SouthState Corp now owns 254 shares of the financial services provider's stock worth $32,000 after buying an additional 166 shares during the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of Brown & Brown by 298.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider's stock worth $30,000 after buying an additional 200 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in shares of Brown & Brown in the 2nd quarter worth approximately $30,000. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Down 2.8%

Shares of NYSE:BRO opened at $90.91 on Tuesday. The company has a market capitalization of $29.98 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 2.13 and a beta of 0.80. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.72 and a quick ratio of 6.72. The business's 50-day moving average is $97.67 and its 200-day moving average is $108.22. Brown & Brown has a 1 year low of $90.38 and a 1 year high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Brown & Brown had a return on equity of 15.10% and a net margin of 19.89%.The firm's revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. Equities research analysts predict that Brown & Brown will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 13th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 13th. Brown & Brown's payout ratio is presently 17.29%.

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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