Brown & Brown (NYSE:BRO) Stock Price Expected to Rise, Barclays Analyst Says

Brown & Brown (NYSE:BRO) had its price target upped by Barclays from $108.00 to $119.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Argus started coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They issued a “buy” rating and a $120.00 target price for the company. Truist Financial increased their price target on shares of Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America increased their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $107.42.

Brown & Brown Trading Up 1.2 %

Brown & Brown stock opened at $112.05 on Thursday. The firm has a 50-day moving average of $106.16 and a 200-day moving average of $98.92. Brown & Brown has a one year low of $69.13 and a one year high of $114.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $32.04 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 2.55 and a beta of 0.82.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business posted $0.71 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities analysts expect that Brown & Brown will post 3.74 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, November 6th. Brown & Brown’s dividend payout ratio (DPR) is 16.35%.

Insider Buying and Selling at Brown & Brown

In related news, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 17.02% of the company’s stock.

Institutional Trading of Brown & Brown

Several institutional investors have recently modified their holdings of the business. SkyView Investment Advisors LLC boosted its position in Brown & Brown by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 8,045 shares of the financial services provider’s stock valued at $833,000 after acquiring an additional 161 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Brown & Brown by 1.4% in the 3rd quarter. Toronto Dominion Bank now owns 117,794 shares of the financial services provider’s stock worth $12,203,000 after acquiring an additional 1,681 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Brown & Brown by 3.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 29,946 shares of the financial services provider’s stock worth $3,105,000 after acquiring an additional 1,100 shares during the last quarter. Barclays PLC increased its stake in Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after buying an additional 371,980 shares during the last quarter. Finally, EWA LLC increased its stake in Brown & Brown by 5.5% in the 3rd quarter. EWA LLC now owns 2,721 shares of the financial services provider’s stock valued at $298,000 after buying an additional 141 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

About Brown & Brown

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.