Brown & Brown, Inc. (NYSE:BRO) Stock Rated “Hold” by Sell-Side Analysts

by · The Markets Daily

Brown & Brown, Inc. (NYSE:BRO – Get Free Report) has earned a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $76.60.

A number of equities analysts have commented on the stock. Citizens Jmp upped their price objective on shares of Brown & Brown from $70.00 to $78.00 and gave the stock a “market outperform” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. lifted their target price on shares of Brown & Brown from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. BMO Capital Markets lifted their target price on shares of Brown & Brown from $73.00 to $74.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. The Goldman Sachs Group boosted their price target on shares of Brown & Brown from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised shares of Brown & Brown from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th.

Check Out Our Latest Report on Brown & Brown

Brown & Brown Trading Up 0.6%

NYSE:BRO opened at $60.96 on Friday. The firm has a market cap of $20.40 billion, a P/E ratio of 19.23, a PEG ratio of 1.86 and a beta of 0.58. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $68.95 and its 200-day simple moving average is $65.17. Brown & Brown has a 12-month low of $53.81 and a 12-month high of $96.55.

Brown & Brown (NYSE:BRO – Get Free Report) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company earned $1.03 EPS. Brown & Brown’s revenue for the quarter was up 30.4% compared to the same quarter last year. Equities analysts anticipate that Brown & Brown will post 4.5 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were paid a dividend of $0.1650 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 12th. Brown & Brown’s dividend payout ratio is 20.82%.

Institutional Trading of Brown & Brown

Hedge funds have recently modified their holdings of the business. Equitable Trust Co. grew its holdings in Brown & Brown by 1.7% during the first quarter. Equitable Trust Co. now owns 10,901 shares of the financial services provider’s stock worth $711,000 after acquiring an additional 182 shares during the period. Delta Global Management LP lifted its holdings in Brown & Brown by 0.8% in the fourth quarter. Delta Global Management LP now owns 26,228 shares of the financial services provider’s stock valued at $2,090,000 after acquiring an additional 200 shares during the period. Financial Enhancement Group LLC boosted its position in shares of Brown & Brown by 3.0% during the 1st quarter. Financial Enhancement Group LLC now owns 8,969 shares of the financial services provider’s stock worth $607,000 after purchasing an additional 261 shares in the last quarter. CWC Advisors LLC. boosted its position in shares of Brown & Brown by 3.5% during the 1st quarter. CWC Advisors LLC. now owns 8,484 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 289 shares in the last quarter. Finally, Patton Fund Management Inc. boosted its position in shares of Brown & Brown by 10.6% during the 1st quarter. Patton Fund Management Inc. now owns 3,123 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 299 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

About Brown & Brown

(Get Free Report)

Brown & Brown, Inc is an independent insurance brokerage, risk management and employee benefits firm headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance placement, risk consulting and related services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialized insurance programs. Brown & Brown also operates wholesale brokerage businesses that provide coverage solutions and access to insurance markets for retail agents and brokers, including products designed for specialty and hard-to-place risks.

Founded in 1939 by J.

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