Brown & Brown - BRO Stock Forecast, Price & News

Brown & Brown, Inc. markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services. It serves commercial, public and quasi-public entities, professional, and individual customers. The National Programs segment offers professional liability and related package insurance products for dentistry, legal, eyecare, insurance, financial, physicians, real estate title professionals, as well as supplementary insurance products related to weddings, events, medical facilities, and cyber liabilities. This segment also offers outsourced product development, marketing, underwriting, actuarial, compliance, and claims and other administrative services to insurance carrier partners; and commercial and public entity-related programs, and flood insurance products. It serves through independent agents. The Wholesale Brokerage segment markets and sells excess and surplus commercial and personal lines insurance through independent agents and brokers. The Services segment offers third-party claims administration and medical utilization management services in the workers' compensation and all-lines liability arenas, Medicare Set-aside, Social Security disability, Medicare benefits advocacy, and claims adjusting services. The company was founded in 1939 and is headquartered in Daytona Beach, Florida.

Analysts Set New Price Targets

Several research firms have commented on BRO. Truist Financial dropped their price objective on shares of Brown & Brown from $82.00 to $75.00 in a research note on Monday, July 18th. Morgan Stanley reduced their target price on shares of Brown & Brown from $70.00 to $64.00 and set an "equal weight" rating for the company in a report on Monday, May 23rd. Jefferies Financial Group dropped their target price on Brown & Brown from $82.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, July 12th. Wells Fargo & Company decreased their price target on Brown & Brown to $66.00 and set an "outperform" rating for the company in a report on Wednesday, July 27th. Finally, UBS Group started coverage on Brown & Brown in a research note on Monday, April 18th. They issued a "neutral" rating and a $76.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and an average target price of $69.00.

Brown & Brown Price Performance

Shares of NYSE:BRO traded up $0.72 during trading on Friday, reaching $67.26. The company had a trading volume of 45,394 shares, compared to its average volume of 1,050,896. Brown & Brown has a twelve month low of $52.91 and a twelve month high of $74.00. The stock has a market capitalization of $19.00 billion, a PE ratio of 30.81 and a beta of 0.80. The stock has a 50-day moving average price of $59.83 and a two-hundred day moving average price of $63.45. The company has a current ratio of 3.90, a quick ratio of 3.90 and a debt-to-equity ratio of 0.97.

Brown & Brown (NYSE:BRO - Get Rating) last released its earnings results on Monday, July 25th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. Brown & Brown had a return on equity of 15.36% and a net margin of 18.86%. The firm had revenue of $838.70 million during the quarter, compared to analyst estimates of $803.46 million. During the same period in the prior year, the firm posted $0.49 earnings per share. The business's quarterly revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that Brown & Brown will post 2.31 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 17th. Shareholders of record on Wednesday, August 10th will be given a dividend of $0.102 per share. This represents a $0.41 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Tuesday, August 9th. Brown & Brown's dividend payout ratio (DPR) is presently 18.98%.

Insider Buying and Selling at Brown & Brown

In related news, Director Lawrence L. Gellerstedt III bought 1,800 shares of the firm's stock in a transaction dated Thursday, May 19th. The stock was bought at an average price of $54.95 per share, with a total value of $98,910.00. Following the completion of the transaction, the director now directly owns 12,884 shares of the company's stock, valued at $707,975.80. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.02% of the stock is owned by company insiders.