Brown & Brown (NYSE:BRO) PT Raised to $92.00 at Keefe, Bruyette & Woods

Brown & Brown (NYSE:BRO) had its price target boosted by Keefe, Bruyette & Woods from $86.00 to $92.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an underperform rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on BRO. Citigroup raised their target price on shares of Brown & Brown from $94.00 to $100.00 and gave the company a buy rating in a research note on Friday, May 31st. UBS Group raised their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the company a neutral rating in a research note on Tuesday, July 9th. Wells Fargo & Company raised their target price on shares of Brown & Brown from $88.00 to $94.00 and gave the company an equal weight rating in a research note on Wednesday, July 24th. Truist Financial raised their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Finally, Raymond James raised their target price on shares of Brown & Brown from $95.00 to $110.00 and gave the company an outperform rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $97.40.

Brown & Brown Stock Down 0.5 %

BRO stock opened at $98.66 on Friday. Brown & Brown has a twelve month low of $66.73 and a twelve month high of $99.92. The company has a market cap of $28.14 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 2.47 and a beta of 0.82. 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 business has a 50 day moving average price of $91.28 and a two-hundred day moving average price of $85.63.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business earned $0.68 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. Analysts anticipate that Brown & Brown will post 3.67 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.52 dividend on an annualized basis and a yield of 0.53%. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.

Insider Activity

In other news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $89.92, for a total value of $301,232.00. Following the completion of the sale, the executive vice president now owns 23,597 shares of the company’s stock, valued at $2,121,842.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Brown & Brown

A number of institutional investors have recently modified their holdings of BRO. SG Americas Securities LLC boosted its position in shares of Brown & Brown by 86.9% in the fourth quarter. SG Americas Securities LLC now owns 24,866 shares of the financial services provider’s stock valued at $1,768,000 after acquiring an additional 11,559 shares during the period. HB Wealth Management LLC raised its stake in Brown & Brown by 17.7% in the fourth quarter. HB Wealth Management LLC now owns 3,526 shares of the financial services provider’s stock valued at $251,000 after purchasing an additional 529 shares in the last quarter. Pacer Advisors Inc. raised its stake in Brown & Brown by 6.5% in the fourth quarter. Pacer Advisors Inc. now owns 15,761 shares of the financial services provider’s stock valued at $1,121,000 after purchasing an additional 968 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in Brown & Brown in the fourth quarter valued at about $61,000. Finally, Mendota Financial Group LLC acquired a new position in Brown & Brown in the fourth quarter valued at about $42,000. 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.