Brown & Brown (NYSE:BRO) Sets New 1-Year Low – Here’s What Happened

Shares of Brown & Brown, Inc. (NYSE:BRO) reached a new 52-week low on Monday . The company traded as low as $57.37 and last traded at $57.8640, with a volume of 1227 shares traded. The stock had previously closed at $57.63.

Analysts Set New Price Targets

A number of research firms have weighed in on BRO. JPMorgan Chase & Co. reduced their target price on Brown & Brown from $91.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Argus upgraded Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. Morgan Stanley reduced their target price on Brown & Brown from $76.00 to $70.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Truist Financial reduced their target price on Brown & Brown from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Finally, Bank of America reduced their target price on Brown & Brown from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Three equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and an average target price of $83.00.

Brown & Brown Price Performance

The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.52. The stock has a market cap of $19.73 billion, a PE ratio of 18.76, a P/E/G ratio of 2.66 and a beta of 0.66. The business has a fifty day simple moving average of $67.60 and a two-hundred day simple moving average of $74.90.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Brown & Brown had a return on equity of 12.94% and a net margin of 17.94%.The firm’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 EPS. Research analysts forecast that Brown & Brown, Inc. will post 4.51 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Monday, May 11th will be paid a $0.165 dividend. The ex-dividend date is Monday, May 11th. This represents a $0.66 annualized dividend and a dividend yield of 1.1%. Brown & Brown’s dividend payout ratio is presently 21.22%.

Institutional Trading of Brown & Brown

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ARQ Wealth Advisors LLC purchased a new stake in shares of Brown & Brown in the 1st quarter worth approximately $243,000. Carnegie Investment Counsel purchased a new stake in shares of Brown & Brown in the 1st quarter worth approximately $1,985,000. Fifth Third Bancorp grew its stake in shares of Brown & Brown by 472.9% in the 1st quarter. Fifth Third Bancorp now owns 65,788 shares of the financial services provider’s stock worth $4,290,000 after buying an additional 54,305 shares during the last quarter. Markel Group Inc. grew its stake in shares of Brown & Brown by 27.3% in the 1st quarter. Markel Group Inc. now owns 14,000 shares of the financial services provider’s stock worth $913,000 after buying an additional 3,000 shares during the last quarter. Finally, Equitable Trust Co. lifted its position in Brown & Brown by 1.7% in the 1st quarter. Equitable Trust Co. now owns 10,901 shares of the financial services provider’s stock valued at $711,000 after acquiring an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Company Profile

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.