Brown & Brown (NYSE:BRO) Price Target Raised to $94.00 at Truist Financial

Brown & Brown (NYSE:BRO) had its target price raised by Truist Financial from $92.00 to $94.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company lifted their price objective on Brown & Brown from $81.00 to $84.00 and gave the stock an equal weight rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods lifted their price objective on Brown & Brown from $75.00 to $80.00 and gave the stock an underperform rating in a research report on Wednesday, April 10th. Royal Bank of Canada boosted their target price on Brown & Brown from $87.00 to $95.00 and gave the company an outperform rating in a research report on Wednesday, March 20th. UBS Group boosted their target price on Brown & Brown from $75.00 to $81.00 and gave the company a neutral rating in a research report on Monday, January 29th. Finally, Citigroup boosted their target price on Brown & Brown from $89.00 to $94.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $87.10.

Brown & Brown Stock Down 1.0 %

Shares of BRO opened at $81.46 on Wednesday. The company has a market capitalization of $23.24 billion, a PE ratio of 25.06, a PEG ratio of 2.25 and a beta of 0.78. Brown & Brown has a 12 month low of $61.71 and a 12 month high of $87.99. The stock’s 50-day moving average price is $84.27 and its two-hundred day moving average price is $77.13. The company has a current ratio of 1.97, a quick ratio of 1.95 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company posted $0.84 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts anticipate that Brown & Brown will post 3.61 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Friday, May 3rd. Brown & Brown’s dividend payout ratio is currently 16.00%.

Insiders Place Their Bets

In other Brown & Brown news, Chairman Hyatt J. Brown sold 144,323 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the completion of the sale, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at approximately $3,220,113,605.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.02% of the company’s stock.

Institutional Trading of Brown & Brown

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRO. Fortitude Family Office LLC purchased a new position in shares of Brown & Brown in the 4th quarter worth approximately $31,000. Park Place Capital Corp boosted its stake in shares of Brown & Brown by 166.5% in the 4th quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock worth $36,000 after buying an additional 318 shares during the last quarter. Alaska Permanent Fund Corp purchased a new position in shares of Brown & Brown in the 1st quarter worth approximately $36,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Brown & Brown by 174.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after buying an additional 348 shares during the last quarter. Finally, First PREMIER Bank purchased a new position in shares of Brown & Brown in the 1st quarter worth approximately $40,000. 71.01% of the stock is owned by institutional investors.

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.