Brown & Brown (NYSE:BRO) Price Target Raised to $120.00

Brown & Brown (NYSE:BRO) had its price objective upped by Royal Bank of Canada from $118.00 to $120.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Wells Fargo & Company increased their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays increased their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Bank of America lifted their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Truist Financial upped their price target on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Price Performance

BRO stock opened at $104.65 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.73 and a current ratio of 1.79. The firm has a 50 day moving average price of $105.25 and a 200-day moving average price of $104.17. Brown & Brown has a 52-week low of $75.79 and a 52-week high of $114.15. The firm has a market capitalization of $29.93 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.68 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Equities research analysts forecast that Brown & Brown will post 4.15 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

Institutional Trading of Brown & Brown

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRO. Mogy Joel R Investment Counsel Inc. increased its stake in shares of Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock worth $1,967,000 after purchasing an additional 14,740 shares in the last quarter. Sanctuary Advisors LLC increased its position in Brown & Brown by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after buying an additional 6,805 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Brown & Brown in the third quarter worth about $9,832,000. Charles Schwab Investment Management Inc. lifted its position in shares of Brown & Brown by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock valued at $136,302,000 after buying an additional 17,934 shares in the last quarter. Finally, Peak Financial Advisors LLC purchased a new position in shares of Brown & Brown during the 4th quarter valued at about $3,037,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

About Brown & Brown

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.