Brown & Brown, Inc. (NYSE:BRO) has received a consensus rating of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $50.50.
Several analysts recently commented on the stock. The Goldman Sachs Group raised shares of Brown & Brown from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $54.00 in a report on Friday, January 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Brown & Brown from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, December 14th. Keefe, Bruyette & Woods raised shares of Brown & Brown from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $50.00 to $54.00 in a research report on Monday, January 18th. Zacks Investment Research cut shares of Brown & Brown from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Tuesday, January 12th. Finally, Credit Suisse Group raised their target price on shares of Brown & Brown from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, December 31st.
Shares of NYSE:BRO opened at $47.12 on Monday. The company has a market capitalization of $13.36 billion, a price-to-earnings ratio of 29.09 and a beta of 0.66. The firm’s 50 day simple moving average is $46.04 and its 200 day simple moving average is $45.90. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.18 and a quick ratio of 1.18. Brown & Brown has a fifty-two week low of $34.06 and a fifty-two week high of $48.76.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 17th. Shareholders of record on Friday, February 5th were given a $0.0925 dividend. The ex-dividend date of this dividend was Thursday, February 4th. This represents a $0.37 annualized dividend and a yield of 0.79%. Brown & Brown’s dividend payout ratio is presently 26.43%.
In related news, Director James Charles Hays bought 10,000 shares of the business’s stock in a transaction on Friday, January 29th. The shares were purchased at an average cost of $43.38 per share, with a total value of $433,800.00. Following the acquisition, the director now owns 342,610 shares of the company’s stock, valued at $14,862,421.80. The purchase was disclosed in a filing with the SEC, which is available through this link. 17.13% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Select Equity Group L.P. raised its stake in Brown & Brown by 7.3% during the 4th quarter. Select Equity Group L.P. now owns 13,889,579 shares of the financial services provider’s stock worth $658,505,000 after buying an additional 948,514 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Brown & Brown by 0.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,970,592 shares of the financial services provider’s stock worth $472,706,000 after acquiring an additional 74,602 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Brown & Brown by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,373,447 shares of the financial services provider’s stock worth $254,755,000 after purchasing an additional 29,907 shares in the last quarter. Norges Bank bought a new position in Brown & Brown during the fourth quarter valued at $112,050,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Brown & Brown by 1.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,234,853 shares of the financial services provider’s stock valued at $105,955,000 after buying an additional 25,490 shares during the last quarter. 69.06% of the stock is currently owned by hedge funds and other institutional investors.
About Brown & Brown
Brown & Brown, Inc markets and sells insurance products and services in the United States, Bermuda, Canada, Cayman Islands, Ireland, and the United Kingdom. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The company offers builders risk, group medical and pharmaceutical, property, commercial auto, homeowners, reinsurance, crop and hail, inland marine, retirement benefit, cyber, disability, risk mitigating warranty products, directors and officers, management liability, errors and omissions, medical stop loss, term life, excess liability, personal auto, umbrella, general liability, prescription drug, workers compensation, and group dental insurance products.
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