Brown & Brown, Inc. (NYSE:BRO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Brown & Brown, Inc. (NYSE:BRO) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $111.67.

Several research firms have recently weighed in on BRO. Bank of America increased their price target on Brown & Brown from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Morgan Stanley assumed coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target for the company. Argus began coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They issued a “buy” rating and a $120.00 price objective on the stock. Finally, Royal Bank of Canada increased their price target on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th.

Brown & Brown Price Performance

NYSE BRO opened at $102.52 on Thursday. Brown & Brown has a one year low of $70.99 and a one year high of $114.15. The stock has a 50-day moving average of $106.97 and a 200 day moving average of $102.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market capitalization of $29.32 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 2.40 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $0.71 earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts forecast that Brown & Brown will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.59%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s dividend payout ratio (DPR) is currently 16.35%.

Institutional Trading of Brown & Brown

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRO. Brooklyn Investment Group purchased a new stake in Brown & Brown during the 3rd quarter valued at approximately $26,000. ST Germain D J Co. Inc. grew its stake in Brown & Brown by 298.5% during the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Brown & Brown in the 3rd quarter valued at $29,000. Versant Capital Management Inc lifted its stake in Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 234 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Brown & Brown during the 3rd quarter valued at about $58,000. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Company Profile

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.