Brown & Brown, Inc. (BRO) Receives Consensus Recommendation of “Hold” from Analysts
Brown & Brown, Inc. (NYSE:BRO) has earned a consensus rating of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $43.43.
BRO has been the subject of a number of recent analyst reports. SunTrust Banks, Inc. reissued a “hold” rating and set a $46.00 price target (up previously from $44.00) on shares of Brown & Brown in a research report on Friday, May 19th. Royal Bank Of Canada reissued a “hold” rating and set a $44.00 price target on shares of Brown & Brown in a research report on Tuesday, June 13th. BidaskClub raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded shares of Brown & Brown from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, Citigroup Inc. raised their price target on shares of Brown & Brown from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 13th.
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In other Brown & Brown news, EVP Anthony T. Strianese sold 10,000 shares of Brown & Brown stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $44.59, for a total value of $445,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.98% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its holdings in Brown & Brown by 9.8% in the second quarter. IFP Advisors Inc now owns 2,823 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 251 shares during the period. Glen Harbor Capital Management LLC boosted its holdings in Brown & Brown by 2.3% in the first quarter. Glen Harbor Capital Management LLC now owns 3,632 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 80 shares during the period. Mosaic Family Wealth LLC boosted its holdings in Brown & Brown by 5.9% in the second quarter. Mosaic Family Wealth LLC now owns 4,208 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 235 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Brown & Brown by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,322 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 405 shares during the period. Finally, Rowland & Co. Investment Counsel ADV boosted its holdings in Brown & Brown by 4.1% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 4,465 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 175 shares during the period. 72.18% of the stock is owned by hedge funds and other institutional investors.
Shares of Brown & Brown (BRO) traded down 0.51% during mid-day trading on Wednesday, hitting $46.59. 777,162 shares of the stock traded hands. Brown & Brown has a one year low of $36.05 and a one year high of $48.32. The stock has a 50-day moving average of $44.59 and a 200 day moving average of $43.37. The stock has a market cap of $6.52 billion, a PE ratio of 24.91 and a beta of 0.77.
Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, July 17th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Brown & Brown had a net margin of 14.52% and a return on equity of 11.10%. The company had revenue of $466.30 million during the quarter, compared to the consensus estimate of $465.48 million. During the same quarter last year, the company earned $0.47 earnings per share. Brown & Brown’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts predict that Brown & Brown will post $1.85 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 9th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Monday, August 7th. Brown & Brown’s payout ratio is currently 29.03%.
Brown & Brown Company Profile
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.
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