Brown & Brown (NYSE:BRO) Given New $138.00 Price Target at Truist Financial

Brown & Brown (NYSE:BRO) had its price objective raised by Truist Financial from $118.00 to $138.00 in a report released on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Bank of America boosted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Barclays boosted their target price on Brown & Brown from $119.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, April 11th. Royal Bank of Canada raised their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $117.50.

Brown & Brown Trading Down 1.2 %

NYSE:BRO opened at $119.47 on Tuesday. Brown & Brown has a 1 year low of $80.33 and a 1 year high of $125.68. The stock has a market cap of $34.16 billion, a P/E ratio of 34.53, a P/E/G ratio of 2.93 and a beta of 0.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a 50-day simple moving average of $116.67 and a 200-day simple moving average of $109.76.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, analysts anticipate that Brown & Brown will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

Institutional Trading of Brown & Brown

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Brown & Brown by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock worth $3,054,493,000 after acquiring an additional 1,335,964 shares during the period. Principal Financial Group Inc. grew its stake in shares of Brown & Brown by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock worth $1,316,259,000 after purchasing an additional 94,121 shares during the period. Geode Capital Management LLC increased its holdings in shares of Brown & Brown by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider’s stock valued at $620,737,000 after purchasing an additional 118,569 shares in the last quarter. Capital World Investors lifted its stake in shares of Brown & Brown by 15.6% in the fourth quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider’s stock valued at $428,043,000 after purchasing an additional 566,116 shares during the period. Finally, Invesco Ltd. boosted its holdings in Brown & Brown by 11.4% during the fourth quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider’s stock worth $388,045,000 after buying an additional 388,411 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

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.