Brown & Brown (NYSE:BRO) Price Target Raised to $117.00

Brown & Brown (NYSE:BRO) had its price target upped by Bank of America from $116.00 to $117.00 in a report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Barclays boosted their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods cut their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Morgan Stanley assumed coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective for the company. Royal Bank of Canada upped their target price on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Brown & Brown has an average rating of “Hold” and an average price target of $113.17.

Brown & Brown Price Performance

BRO opened at $105.53 on Tuesday. The stock’s 50-day moving average price is $105.40 and its 200 day moving average price is $104.09. Brown & Brown has a 12-month low of $75.79 and a 12-month high of $114.15. The firm has a market cap of $30.18 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 2.12 and a beta of 0.85. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. As a group, sell-side analysts expect that Brown & Brown will post 3.74 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.57%. Brown & Brown’s dividend payout ratio is presently 16.35%.

Institutional Trading of Brown & Brown

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Brown & Brown during the third quarter worth approximately $26,000. ST Germain D J Co. Inc. increased its holdings in shares of Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Brown & Brown in the 3rd quarter valued at $29,000. Y.D. More Investments Ltd boosted its stake in Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 162 shares during the period. Finally, R Squared Ltd purchased a new position in Brown & Brown during the 4th quarter worth $31,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.