Weekly Analysts’ Ratings Changes for Brown & Brown (BRO)

A number of research firms have changed their ratings and price targets for Brown & Brown (NYSE: BRO):

• 4/24/2024 – Brown & Brown had its price target raised by analysts at Wells Fargo & Company from $84.00 to $85.00. They now have an “equal weight” rating on the stock.
• 4/24/2024 – Brown & Brown had its price target raised by analysts at Truist Financial Co. from $92.00 to $94.00. They now have a “buy” rating on the stock.
• 4/16/2024 – Brown & Brown had its price target raised by analysts at Citigroup Inc. from $89.00 to $94.00. They now have a “buy” rating on the stock.
• 4/11/2024 – Brown & Brown had its price target raised by analysts at Wells Fargo & Company from $81.00 to $84.00. They now have an “equal weight” rating on the stock.
• 4/10/2024 – Brown & Brown had its price target raised by analysts at Keefe, Bruyette & Woods from $75.00 to $80.00. They now have an “underperform” rating on the stock.
• 3/26/2024 – Brown & Brown had its price target raised by analysts at Raymond James from $90.00 to $95.00. They now have an “outperform” rating on the stock.
• 3/20/2024 – Brown & Brown had its price target raised by analysts at Royal Bank of Canada from $87.00 to $95.00. They now have an “outperform” rating on the stock.
• 3/17/2024 – Brown & Brown was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 3/13/2024 – Brown & Brown was downgraded by analysts at Bank of America Co. from a “neutral” rating to an “underperform” rating. They now have a $86.00 price target on the stock, up previously from $80.00.
• 3/9/2024 – Brown & Brown was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Brown & Brown Price Performance

Brown & Brown stock traded up $0.20 during trading hours on Thursday, hitting $82.90. 271,641 shares of the stock were exchanged, compared to its average volume of 1,341,655. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market capitalization of $23.65 billion, a P/E ratio of 25.51, a P/E/G ratio of 2.23 and a beta of 0.79. Brown & Brown, Inc. has a 12 month low of $61.71 and a 12 month high of $87.99. The business’s 50-day moving average is $84.22 and its two-hundred day moving average is $77.41.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. Equities research analysts expect that Brown & Brown, Inc. will post 3.62 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.52 annualized dividend and a dividend yield of 0.63%. Brown & Brown’s dividend payout ratio (DPR) is currently 16.00%.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the sale, the chairman now directly owns 37,460,605 shares of the company’s stock, valued at $3,220,113,605.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Brown & Brown

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Brown & Brown by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 28,152,200 shares of the financial services provider’s stock valued at $2,001,903,000 after acquiring an additional 266,441 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brown & Brown by 3.2% during the first quarter. Principal Financial Group Inc. now owns 12,718,155 shares of the financial services provider’s stock worth $1,113,347,000 after acquiring an additional 392,250 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Brown & Brown by 0.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,236,392 shares of the financial services provider’s stock worth $372,360,000 after acquiring an additional 29,514 shares during the period. Norges Bank acquired a new stake in shares of Brown & Brown during the fourth quarter worth $217,663,000. Finally, Northern Trust Corp raised its holdings in shares of Brown & Brown by 6.1% during the third quarter. Northern Trust Corp now owns 2,285,511 shares of the financial services provider’s stock worth $159,620,000 after acquiring an additional 130,647 shares during the period. 71.01% of the stock is owned by institutional investors.

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.