Brown & Brown, Inc. (NYSE:BRO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Brown & Brown, Inc. (NYSE:BRO) has been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $109.46.

BRO has been the subject of several analyst reports. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Barclays increased their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Argus assumed coverage on shares of Brown & Brown in a research report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective on the stock. Jefferies Financial Group boosted their target price on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price objective on Brown & Brown from $112.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th.

Brown & Brown Stock Performance

Shares of BRO opened at $104.19 on Friday. The company’s 50 day simple moving average is $107.92 and its 200-day simple moving average is $101.09. The firm has a market cap of $29.79 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.84. Brown & Brown has a 12-month low of $69.13 and a 12-month high of $114.15. 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 data on Monday, October 28th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm posted $0.71 EPS. Brown & Brown’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts predict that Brown & Brown will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.58%. 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 payout ratio is 16.35%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Studio Investment Management LLC raised its position in shares of Brown & Brown by 1.5% in the third quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after buying an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings 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 valued at $1,819,000 after acquiring an additional 100 shares during the last quarter. Trust Point Inc. lifted its stake in shares of Brown & Brown by 4.3% during the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 103 shares during the period. Creative Planning lifted its position in Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock worth $3,097,000 after buying an additional 112 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Brown & Brown by 0.5% in the third quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock worth $2,375,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds 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.