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

A number of research analysts recently weighed in on BRO shares. Wells Fargo & Company decreased their target price on Brown & Brown to $66.00 and set an "outperform" rating on the stock in a report on Wednesday, July 27th. Morgan Stanley decreased their target price on Brown & Brown from $70.00 to $64.00 and set an "equal weight" rating on the stock in a report on Monday, May 23rd. Jefferies Financial Group decreased their target price on Brown & Brown from $82.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, July 12th. Truist Financial decreased their target price on Brown & Brown from $82.00 to $75.00 in a report on Monday, July 18th. Finally, UBS Group began coverage on Brown & Brown in a report on Monday, April 18th. They set a "neutral" rating and a $76.00 target price on the stock. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Brown & Brown has a consensus rating of "Hold" and a consensus price target of $69.00.

Brown & Brown Price Performance

Shares of NYSE:BRO traded up $0.17 during trading on Thursday, reaching $66.54. 699,179 shares of the company traded hands, compared to its average volume of 1,738,144. The company's 50 day moving average is $59.69 and its two-hundred day moving average is $63.43. The firm has a market capitalization of $18.79 billion, a PE ratio of 31.03 and a beta of 0.80. The company has a quick ratio of 3.90, a current ratio of 3.90 and a debt-to-equity ratio of 0.97. Brown & Brown has a 52 week low of $52.91 and a 52 week high of $74.00.

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

Brown & Brown Dividend Announcement

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

Insider Activity

In related news, Director Lawrence L. Gellerstedt III bought 1,800 shares of the business's stock in a transaction dated Thursday, May 19th. The stock was purchased at an average cost of $54.95 per share, for a total transaction of $98,910.00. Following the transaction, the director now owns 12,884 shares in the company, valued at approximately $707,975.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 17.02% of the company's stock.