Brown & Brown (NYSE:BRO) Price Target Raised to $102.00 at Keefe, Bruyette & Woods

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

A number of other analysts have also weighed in on BRO. Truist Financial reduced 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 report on Wednesday, April 30th. UBS Group increased their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 9th. Barclays increased their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Morgan Stanley reissued an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Finally, BMO Capital Markets increased their price objective on shares of Brown & Brown from $116.00 to $122.00 and gave the stock an "outperform" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of "Hold" and a consensus price target of $118.85.

Brown & Brown Price Performance

Shares of Brown & Brown stock traded down $0.17 during trading hours on Friday, reaching $106.63. The company's stock had a trading volume of 7,837,665 shares, compared to its average volume of 1,641,139. The firm has a 50 day moving average price of $112.38 and a 200-day moving average price of $111.08. 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 cap of $30.56 billion, a P/E ratio of 30.82, a P/E/G ratio of 2.93 and a beta of 0.84. Brown & Brown has a one year low of $88.31 and a one year high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last announced 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 analysts' expectations of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. On average, analysts predict that Brown & Brown will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

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

Hedge Funds Weigh In On Brown & Brown

Institutional investors have recently bought and sold shares of the business. Bares Capital Management Inc. purchased a new position in Brown & Brown during the first quarter valued at approximately $26,000. Optimum Investment Advisors acquired a new stake in Brown & Brown in the first quarter valued at approximately $31,000. SouthState Corp boosted its stake in Brown & Brown by 188.6% in the first quarter. SouthState Corp now owns 254 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 166 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in Brown & Brown in the fourth quarter valued at approximately $28,000. Finally, Johnson Financial Group Inc. boosted its stake in Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 235 shares in 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.