Research Analysts’ Weekly Ratings Updates for Brown & Brown (BRO)

Several analysts have recently updated their ratings and price targets for Brown & Brown (NYSE: BRO):

• 7/26/2024 – Brown & Brown had its price target raised by analysts at Keefe, Bruyette & Woods from $86.00 to $92.00. They now have an “underperform” rating on the stock.
• 7/26/2024 – Brown & Brown was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 7/25/2024 – Brown & Brown had its price target raised by analysts at Raymond James from $95.00 to $110.00. They now have an “outperform” rating on the stock.
• 7/24/2024 – Brown & Brown had its price target raised by analysts at Royal Bank of Canada from $95.00 to $110.00. They now have an “outperform” rating on the stock.
• 7/24/2024 – Brown & Brown had its price target raised by analysts at Wells Fargo & Company from $88.00 to $94.00. They now have an “equal weight” rating on the stock.
• 7/24/2024 – Brown & Brown had its price target raised by analysts at Truist Financial Co. from $104.00 to $112.00. They now have a “buy” rating on the stock.
• 7/18/2024 – Brown & Brown was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 7/10/2024 – Brown & Brown had its price target raised by analysts at Truist Financial Co. from $94.00 to $104.00. They now have a “buy” rating on the stock.
• 7/9/2024 – Brown & Brown had its price target raised by analysts at UBS Group AG from $91.00 to $94.00. They now have a “neutral” rating on the stock.
• 7/4/2024 – Brown & Brown was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 6/25/2024 – Brown & Brown was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Brown & Brown Price Performance

BRO stock opened at $99.84 on Wednesday. The firm has a 50 day moving average price of $91.46 and a 200-day moving average price of $85.81. Brown & Brown, Inc. has a 52-week low of $66.73 and a 52-week high of $100.24. The firm has a market capitalization of $28.48 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 2.46 and a beta of 0.82. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.35 and a current ratio of 2.35.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05. Brown & Brown had a net margin of 21.95% and a return on equity of 17.00%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the business earned $0.68 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. Equities research analysts forecast that Brown & Brown, Inc. will post 3.67 EPS for the current fiscal year.

Brown & Brown Announces Dividend

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

Insider Buying and Selling

In related news, EVP Julie Turpin sold 3,350 shares of the business’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 value of $301,232.00. Following the completion of the transaction, 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 document filed with the SEC, which is available through this hyperlink. 17.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brown & Brown

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Brown & Brown in the 4th quarter worth approximately $217,663,000. Congress Asset Management Co. MA bought a new stake in Brown & Brown in the 4th quarter worth approximately $82,445,000. The Manufacturers Life Insurance Company grew its position in Brown & Brown by 76.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,000,227 shares of the financial services provider’s stock worth $142,236,000 after purchasing an additional 865,082 shares during the period. Confluence Investment Management LLC bought a new stake in Brown & Brown in the 1st quarter worth approximately $49,598,000. Finally, Allianz Asset Management GmbH grew its position in Brown & Brown by 339.1% in the 4th quarter. Allianz Asset Management GmbH now owns 648,550 shares of the financial services provider’s stock worth $46,118,000 after purchasing an additional 500,847 shares during the period. 71.01% of the stock is currently owned by hedge funds and other 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.