Brown & Brown (NYSE:BRO) Price Target Raised to $102.00

Brown & Brown (NYSE:BRO - Free Report) had its target price hoisted by Keefe, Bruyette & Woods from $100.00 to $102.00 in a research report report published on Friday morning,Benzinga reports. They currently have an underperform rating on the financial services provider's stock.

BRO has been the topic of several other research reports. BMO Capital Markets reaffirmed an "outperform" rating and set a $122.00 price objective (up previously from $116.00) on shares of Brown & Brown in a research note on Thursday. The Goldman Sachs Group lowered Brown & Brown from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $126.00 to $119.00 in a research report on Tuesday, May 13th. Edward Jones initiated coverage on Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating for the company. Morgan Stanley restated an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Finally, Barclays lifted their price target on shares of Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Brown & Brown has a consensus rating of "Hold" and a consensus price target of $118.85.

Brown & Brown Trading Up 0.4%

Shares of NYSE:BRO traded up $0.44 during mid-day trading on Friday, reaching $107.06. The stock had a trading volume of 3,467,936 shares, compared to its average volume of 2,057,733. The firm has a 50 day simple moving average of $112.38 and a two-hundred day simple moving average of $111.05. Brown & Brown has a twelve month low of $88.31 and a twelve month high of $125.68. The firm has a market cap of $30.69 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 2.93 and a beta of 0.84. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. On average, research analysts predict that Brown & Brown will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bares Capital Management Inc. bought a new stake in shares of Brown & Brown during the 1st quarter worth approximately $26,000. Optimum Investment Advisors acquired a new stake in Brown & Brown during the 1st quarter valued at $31,000. SouthState Corp boosted its position in Brown & Brown by 188.6% during the first quarter. SouthState Corp now owns 254 shares of the financial services provider's stock worth $32,000 after purchasing an additional 166 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Brown & Brown during the 4th quarter worth about $28,000. Finally, Johnson Financial Group Inc. grew its stake in Brown & Brown by 534.1% in the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after buying an additional 235 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

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.