Brown & Brown (NYSE:BRO) Price Target Increased to $110.00 by Analysts at Raymond James

Brown & Brown (NYSE:BRO) had its price objective lifted by Raymond James from $95.00 to $110.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. Wells Fargo & Company upped their price target on shares of Brown & Brown from $88.00 to $94.00 and gave the stock an equal weight rating in a research note on Wednesday. UBS Group increased their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the company a neutral rating in a research note on Tuesday, July 9th. Truist Financial increased their target price on shares of Brown & Brown from $104.00 to $112.00 and gave the company a buy rating in a research note on Wednesday. Royal Bank of Canada upped their price objective on shares of Brown & Brown from $95.00 to $110.00 and gave the company an outperform rating in a research note on Wednesday. Finally, StockNews.com lowered shares of Brown & Brown from a buy rating to a hold rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $97.40.

Brown & Brown Trading Down 0.1 %

Brown & Brown stock opened at $97.43 on Thursday. The company has a quick ratio of 1.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $90.93 and a two-hundred day moving average price of $85.17. The firm has a market capitalization of $27.79 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 2.36 and a beta of 0.82. Brown & Brown has a 52-week low of $66.73 and a 52-week high of $99.08.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. Brown & Brown’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. Sell-side analysts expect that Brown & Brown will post 3.66 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.53%. The ex-dividend date is Wednesday, August 7th. Brown & Brown’s payout ratio is 16.00%.

Insider Buying and Selling

In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the sale, the executive vice president now directly owns 23,597 shares in the company, valued at approximately $2,121,842.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 17.02% of the stock is owned by insiders.

Institutional Trading of Brown & Brown

Hedge funds and other institutional investors have recently made changes to their positions in the business. Callan Family Office LLC acquired a new position in Brown & Brown during the second quarter worth $407,000. AlphaCentric Advisors LLC bought a new position in Brown & Brown during the second quarter worth $183,000. First Merchants Corp boosted its position in Brown & Brown by 1.1% during the second quarter. First Merchants Corp now owns 31,750 shares of the financial services provider’s stock worth $2,839,000 after purchasing an additional 338 shares during the period. Pictet North America Advisors SA bought a new position in Brown & Brown during the second quarter worth $7,933,000. Finally, &PARTNERS bought a new position in Brown & Brown during the second quarter worth $1,567,000. 71.01% of the stock is currently 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, 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.