Brown & Brown (NYSE:BRO) Price Target Increased to $94.00 by Analysts at UBS Group

Brown & Brown (NYSE:BRO) had its target price raised by UBS Group from $91.00 to $94.00 in a research report sent to investors on Tuesday, Benzinga reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Brown & Brown from a buy rating to a hold rating in a research report on Thursday, July 4th. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $84.00 to $85.00 and gave the company an equal weight rating in a research note on Wednesday, April 24th. Royal Bank of Canada upped their target price on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an outperform rating in a research note on Wednesday, March 20th. Citigroup boosted their price target on shares of Brown & Brown from $94.00 to $100.00 and gave the stock a buy rating in a report on Friday, May 31st. Finally, Raymond James upped their price target on shares of Brown & Brown from $90.00 to $95.00 and gave the company an outperform rating in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $91.70.

Brown & Brown Trading Up 1.9 %

Shares of Brown & Brown stock opened at $93.74 on Tuesday. The stock has a market cap of $26.74 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 2.39 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a fifty day moving average price of $89.67 and a 200 day moving average price of $83.75. Brown & Brown has a 1 year low of $66.73 and a 1 year high of $94.12.

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

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.55%. Brown & Brown’s dividend payout ratio is presently 16.00%.

Insider Activity

In related news, EVP Julie Turpin sold 3,350 shares of Brown & Brown stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $89.92, for a total transaction of $301,232.00. Following the completion of the sale, the executive vice president now owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 17.02% of the company’s stock.

Hedge Funds Weigh In On Brown & Brown

Large investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. lifted its stake in shares of Brown & Brown by 10.6% in the 2nd quarter. QRG Capital Management Inc. now owns 16,879 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 1,621 shares in the last quarter. Spring Capital Management LLC boosted its position in Brown & Brown by 8.9% in the 2nd quarter. Spring Capital Management LLC now owns 100,012 shares of the financial services provider’s stock valued at $8,942,000 after buying an additional 8,137 shares during the last quarter. Threadgill Financial LLC lifted its position in shares of Brown & Brown by 3.7% during the second quarter. Threadgill Financial LLC now owns 18,363 shares of the financial services provider’s stock worth $1,642,000 after purchasing an additional 658 shares during the last quarter. Trinity Financial Advisors LLC acquired a new stake in Brown & Brown during the second quarter worth about $204,000. Finally, Legacy Financial Strategies LLC raised its stake in Brown & Brown by 7.9% during the second quarter. Legacy Financial Strategies LLC now owns 43,825 shares of the financial services provider’s stock worth $3,946,000 after acquiring an additional 3,215 shares during the period. 71.01% of the stock is currently owned by hedge funds and other 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.