Brown & Brown, Inc. (NYSE:BRO) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Brown & Brown, Inc. (NYSE:BRO) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $105.67.

A number of equities analysts have recently issued reports on the company. Truist Financial increased their target price on Brown & Brown from $112.00 to $116.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Argus assumed coverage on Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective for the company. Bank of America upped their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Jefferies Financial Group increased their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada upped their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th.

Brown & Brown Trading Down 1.2 %

NYSE BRO opened at $103.98 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $29.66 billion, a P/E ratio of 29.88, a P/E/G ratio of 2.48 and a beta of 0.83. Brown & Brown has a 52-week low of $67.30 and a 52-week high of $107.67. The firm has a 50-day moving average price of $104.03 and a 200 day moving average price of $95.13.

Brown & Brown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be given a $0.15 dividend. This is an increase from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Wednesday, November 6th. Brown & Brown’s dividend payout ratio is currently 14.94%.

Insider Activity at Brown & Brown

In related news, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO R. Andrew Watts sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total transaction of $250,800.00. Following the sale, the chief financial officer now owns 88,445 shares in the company, valued at approximately $8,872,802.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Hyatt J. Brown sold 134,640 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The disclosure for this sale can be found here. Corporate insiders own 17.02% of the company’s stock.

Institutional Investors Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently made changes to their positions in BRO. Oregon Public Employees Retirement Fund boosted its stake in Brown & Brown by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock worth $1,819,000 after buying an additional 100 shares during the last quarter. Trust Point Inc. boosted its position in shares of Brown & Brown by 4.3% in the third quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 103 shares during the last quarter. Creative Planning grew its holdings in Brown & Brown by 0.4% in the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after purchasing an additional 112 shares during the period. State of Alaska Department of Revenue grew its holdings in Brown & Brown by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock valued at $2,243,000 after purchasing an additional 125 shares during the period. Finally, Anchor Investment Management LLC increased its position in Brown & Brown by 4.0% during the second quarter. Anchor Investment Management LLC now owns 3,286 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.