BidaskClub upgraded shares of Brown & Brown, Inc. (NYSE:BRO) from a sell rating to a hold rating in a report released on Wednesday morning.
Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada restated a hold rating and set a $44.00 price objective on shares of Brown & Brown in a research report on Tuesday, June 13th. Zacks Investment Research lowered shares of Brown & Brown from a hold rating to a sell rating in a report on Monday, July 31st. SunTrust Banks, Inc. reaffirmed a hold rating and set a $46.00 target price (up previously from $44.00) on shares of Brown & Brown in a report on Friday, May 19th. Wells Fargo & Company reaffirmed a hold rating on shares of Brown & Brown in a report on Tuesday. Finally, Citigroup Inc. upped their target price on shares of Brown & Brown from $45.00 to $46.00 and gave the stock a neutral rating in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $43.50.
Shares of Brown & Brown (NYSE:BRO) traded down 0.36% during trading on Wednesday, hitting $43.88. 47,650 shares of the company’s stock were exchanged. The company has a market cap of $6.14 billion, a P/E ratio of 23.47 and a beta of 0.78. The company has a 50-day moving average of $43.71 and a 200-day moving average of $43.08. Brown & Brown has a 12-month low of $36.04 and a 12-month high of $45.77.
Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, July 17th. The financial services provider reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The company had revenue of $466.30 million during the quarter, compared to analysts’ expectations of $465.48 million. Brown & Brown had a net margin of 14.52% and a return on equity of 11.10%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. On average, equities analysts expect that Brown & Brown will post $1.84 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, August 7th. Brown & Brown’s payout ratio is 29.03%.
In other news, EVP Anthony T. Strianese sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $44.59, for a total transaction of $445,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.98% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in BRO. Tandem Investment Advisors Inc. raised its stake in shares of Brown & Brown by 12.0% in the second quarter. Tandem Investment Advisors Inc. now owns 230,055 shares of the financial services provider’s stock worth $9,908,000 after buying an additional 24,576 shares in the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of Brown & Brown during the second quarter worth about $434,000. Ameritas Investment Partners Inc. raised its stake in shares of Brown & Brown by 1.7% in the second quarter. Ameritas Investment Partners Inc. now owns 34,420 shares of the financial services provider’s stock worth $1,482,000 after buying an additional 582 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Brown & Brown during the second quarter worth about $382,000. Finally, Rowland & Co. Investment Counsel ADV raised its stake in shares of Brown & Brown by 4.1% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 4,465 shares of the financial services provider’s stock worth $193,000 after buying an additional 175 shares in the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.
Brown & Brown Company Profile
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.
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