Brokerages Set Brown & Brown, Inc. (NYSE:BRO) Price Target at $90.64

Brown & Brown, Inc. (NYSE:BRO) has been given a consensus rating of “Hold” by the eighteen research firms that are covering the firm, MarketBeat.com reports. Fifteen investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $90.3571.

A number of research firms have recently weighed in on BRO. Jefferies Financial Group cut their price objective on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Weiss Ratings restated a “hold (c)” rating on shares of Brown & Brown in a research note on Monday, December 29th. JPMorgan Chase & Co. began coverage on Brown & Brown in a report on Thursday, December 18th. They set a “neutral” rating and a $91.00 target price on the stock. Wells Fargo & Company decreased their price target on Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating for the company in a report on Friday. Finally, BMO Capital Markets dropped their price objective on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research note on Thursday, January 29th.

Brown & Brown Stock Performance

BRO opened at $68.47 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. Brown & Brown has a 52-week low of $65.68 and a 52-week high of $125.68. The company has a market cap of $23.31 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 2.07 and a beta of 0.79. The firm’s 50-day moving average price is $77.38 and its 200-day moving average price is $85.00.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 earnings per share. As a group, equities analysts anticipate that Brown & Brown will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a yield of 1.0%. Brown & Brown’s payout ratio is presently 20.63%.

Institutional Investors Weigh In On Brown & Brown

A number of institutional investors have recently modified their holdings of the business. Tower Wealth Partners Inc. boosted its position in Brown & Brown by 4.6% during the second quarter. Tower Wealth Partners Inc. now owns 2,464 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 108 shares in the last quarter. Western Wealth Management LLC raised its stake in shares of Brown & Brown by 6.0% during the 2nd quarter. Western Wealth Management LLC now owns 1,902 shares of the financial services provider’s stock worth $211,000 after buying an additional 108 shares during the period. ICONIQ Capital LLC raised its stake in shares of Brown & Brown by 5.4% during the 2nd quarter. ICONIQ Capital LLC now owns 2,110 shares of the financial services provider’s stock worth $234,000 after buying an additional 109 shares during the period. Kingsview Wealth Management LLC lifted its position in shares of Brown & Brown by 2.2% during the 2nd quarter. Kingsview Wealth Management LLC now owns 5,267 shares of the financial services provider’s stock valued at $584,000 after buying an additional 114 shares in the last quarter. Finally, Zacks Investment Management grew its stake in Brown & Brown by 0.7% in the 3rd quarter. Zacks Investment Management now owns 17,854 shares of the financial services provider’s stock valued at $1,675,000 after acquiring an additional 125 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.