Keefe, Bruyette & Woods Lowers Brown & Brown (NYSE:BRO) Price Target to $100.00

Brown & Brown (NYSE:BRO - Free Report) had its target price trimmed by Keefe, Bruyette & Woods from $102.00 to $100.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an underperform rating on the financial services provider's stock.

Several other analysts also recently issued reports on the company. Edward Jones initiated coverage on Brown & Brown in a report on Wednesday, April 16th. They issued a "buy" rating for the company. Bank of America raised their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Jefferies Financial Group increased their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Royal Bank of Canada lifted their target price on Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, Truist Financial lowered their price objective on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $116.67.

Brown & Brown Stock Performance

Shares of NYSE:BRO traded up $0.95 on Monday, reaching $111.33. The company's stock had a trading volume of 1,372,871 shares, compared to its average volume of 1,466,231. Brown & Brown has a 52-week low of $84.53 and a 52-week high of $125.68. The stock's 50-day moving average is $117.47 and its two-hundred day moving average is $110.74. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $31.91 billion, a P/E ratio of 32.18, a PEG ratio of 2.93 and a beta of 0.87.

Brown & Brown (NYSE:BRO - Get Free Report) last released 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 during 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%. The business's revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. As a group, sell-side analysts forecast that Brown & Brown will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown's dividend payout ratio is 16.71%.

Institutional Investors Weigh In On Brown & Brown

A number of institutional investors have recently modified their holdings of BRO. Optimum Investment Advisors bought a new stake in Brown & Brown during the first quarter worth $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Brown & Brown during the fourth quarter worth $28,000. Johnson Financial Group Inc. raised its position in shares of Brown & Brown by 534.1% in the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after acquiring an additional 235 shares in the last quarter. Y.D. More Investments Ltd lifted its stake in Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock valued at $30,000 after buying an additional 162 shares during the period. Finally, R Squared Ltd acquired a new stake in Brown & Brown in the fourth quarter worth $31,000. 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.