Brown & Brown (NYSE:BRO) PT Raised to $94.00

Brown & Brown (NYSE:BRO - Free Report) had its target price boosted by Citigroup from $89.00 to $94.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Citigroup currently has a buy rating on the financial services provider's stock.

A number of other brokerages have also commented on BRO. StockNews.com upgraded Brown & Brown from a hold rating to a buy rating in a report on Sunday, March 17th. UBS Group lifted their price target on Brown & Brown from $75.00 to $81.00 and gave the company a neutral rating in a research report on Monday, January 29th. Wells Fargo & Company lifted their price target on Brown & Brown from $81.00 to $84.00 and gave the company an equal weight rating in a research report on Thursday, April 11th. Truist Financial boosted their target price on Brown & Brown from $85.00 to $92.00 and gave the stock a buy rating in a research report on Wednesday, January 24th. Finally, Bank of America lowered Brown & Brown from a neutral rating to an underperform rating and lifted their price target for the stock from $80.00 to $86.00 in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of Hold and a consensus price target of $86.80.

Brown & Brown Trading Down 0.1 %

Shares of BRO stock traded down $0.11 on Tuesday, hitting $80.92. The company had a trading volume of 1,111,098 shares, compared to its average volume of 1,333,067. The firm has a market cap of $23.09 billion, a P/E ratio of 26.44, a P/E/G ratio of 2.54 and a beta of 0.78. The stock's 50-day moving average is $84.15 and its two-hundred day moving average is $76.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.95 and a current ratio of 1.95. Brown & Brown has a twelve month low of $58.71 and a twelve month high of $87.99.

Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $1.03 billion during the quarter. Brown & Brown had a return on equity of 15.46% and a net margin of 20.44%. During the same period in the prior year, the business earned $0.50 EPS. On average, equities research analysts anticipate that Brown & Brown will post 3.44 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, February 1st. This represents a $0.52 annualized dividend and a yield of 0.64%. Brown & Brown's payout ratio is currently 16.99%.

Insider Buying and Selling at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total value of $12,406,005.08. Following the completion of the sale, the chairman now owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.43% of the company's stock.

Hedge Funds Weigh In On Brown & Brown

Several hedge funds have recently made changes to their positions in the company. Independent Advisor Alliance increased its position in shares of Brown & Brown by 0.3% in the 3rd quarter. Independent Advisor Alliance now owns 51,561 shares of the financial services provider's stock valued at $3,601,000 after acquiring an additional 155 shares during the period. Advisor Partners II LLC increased its position in shares of Brown & Brown by 1.3% in the 1st quarter. Advisor Partners II LLC now owns 11,845 shares of the financial services provider's stock valued at $680,000 after acquiring an additional 157 shares during the period. Legacy Capital Wealth Partners LLC increased its position in shares of Brown & Brown by 2.6% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider's stock valued at $449,000 after acquiring an additional 158 shares during the period. Stephens Inc. AR increased its position in shares of Brown & Brown by 0.7% in the 1st quarter. Stephens Inc. AR now owns 25,801 shares of the financial services provider's stock valued at $1,481,000 after acquiring an additional 172 shares during the period. Finally, Tributary Capital Management LLC boosted its holdings in Brown & Brown by 1.1% in the fourth quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider's stock valued at $1,186,000 after purchasing an additional 174 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.