Brown & Brown (NYSE:BRO) Price Target Raised to $125.00

Brown & Brown (NYSE:BRO) had its price target raised by Wells Fargo & Company from $115.00 to $125.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on BRO. Barclays upped their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Jefferies Financial Group upped their price objective on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Bank of America lifted their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday. StockNews.com downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Truist Financial boosted their price objective on Brown & Brown from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and an average price target of $113.17.

Brown & Brown Price Performance

NYSE:BRO opened at $104.65 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.73. The company has a 50 day moving average price of $105.25 and a 200-day moving average price of $104.17. Brown & Brown has a 1-year low of $75.79 and a 1-year high of $114.15. The firm has a market cap of $29.93 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 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 year.

Brown & Brown Announces Dividend

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

Institutional Trading of Brown & Brown

Several large investors have recently added to or reduced their stakes in BRO. Zurich Insurance Group Ltd FI boosted its position in shares of Brown & Brown by 258.0% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after acquiring an additional 465,988 shares during the last quarter. Truist Financial Corp increased its position in Brown & Brown by 392.3% during the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock worth $42,287,000 after purchasing an additional 376,892 shares during the last quarter. Barclays PLC raised its stake in Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after purchasing an additional 371,980 shares during the period. Handelsbanken Fonder AB boosted its holdings in Brown & Brown by 771.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 415,134 shares of the financial services provider’s stock valued at $43,008,000 after purchasing an additional 367,500 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Brown & Brown by 42.4% in the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after buying an additional 330,661 shares during the period. 71.01% of the stock is currently 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.