Brown & Brown (NYSE:BRO) had its target price upped by Morgan Stanley from $44.00 to $47.00 in a report released on Wednesday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.
A number of other equities research analysts have also issued reports on the stock. Credit Suisse Group reissued a hold rating and set a $38.00 target price on shares of Brown & Brown in a research note on Tuesday, April 28th. Wells Fargo & Co decreased their target price on shares of Brown & Brown from $44.00 to $40.00 and set an equal weight rating for the company in a research note on Wednesday, April 1st. Royal Bank of Canada lifted their target price on shares of Brown & Brown from $38.00 to $44.00 and gave the company a sector perform rating in a research note on Wednesday. They noted that the move was a valuation call. Finally, SunTrust Banks lifted their price objective on shares of Brown & Brown from $46.00 to $53.00 and gave the company a buy rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Brown & Brown currently has an average rating of Hold and a consensus target price of $41.71.
Brown & Brown stock opened at $45.47 on Wednesday. The company has a 50 day moving average price of $42.04 and a 200 day moving average price of $40.83. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 29.91 and a beta of 0.68. Brown & Brown has a 52 week low of $30.70 and a 52 week high of $48.69. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 0.98.
Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, July 27th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The company had revenue of $598.20 million during the quarter, compared to analyst estimates of $576.26 million. Brown & Brown had a net margin of 17.69% and a return on equity of 12.54%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Equities analysts forecast that Brown & Brown will post 1.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, August 5th will be paid a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, August 4th. Brown & Brown’s payout ratio is presently 24.29%.
Several hedge funds have recently added to or reduced their stakes in BRO. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Brown & Brown in the 1st quarter valued at $8,149,000. Guggenheim Capital LLC raised its holdings in Brown & Brown by 16.7% in the 4th quarter. Guggenheim Capital LLC now owns 21,404 shares of the financial services provider’s stock worth $845,000 after acquiring an additional 3,066 shares during the period. First Republic Investment Management Inc. raised its holdings in Brown & Brown by 15.1% in the 4th quarter. First Republic Investment Management Inc. now owns 6,591 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 867 shares during the period. AQR Capital Management LLC raised its holdings in Brown & Brown by 3.9% in the 4th quarter. AQR Capital Management LLC now owns 85,857 shares of the financial services provider’s stock worth $3,390,000 after acquiring an additional 3,259 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Brown & Brown by 103.0% in the 4th quarter. Advisors Asset Management Inc. now owns 6,696 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 3,397 shares during the period. 71.15% of the stock is owned by institutional investors and hedge funds.
Brown & Brown Company Profile
Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.
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