Brown & Brown, Inc. (BRO) Given Hold Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their hold rating on shares of Brown & Brown, Inc. (NYSE:BRO) in a research report report published on Monday. They currently have a $45.00 price objective on the financial services provider’s stock.

A number of other analysts have also commented on the company. Barclays PLC lifted their price target on Brown & Brown from $39.00 to $43.00 and gave the stock an underweight rating in a report on Monday. BidaskClub upgraded Brown & Brown from a sell rating to a hold rating in a research note on Wednesday, August 16th. Wells Fargo & Co restated a hold rating on shares of Brown & Brown in a research note on Tuesday, August 15th. Zacks Investment Research lowered Brown & Brown from a hold rating to a sell rating in a research note on Monday, July 31st. Finally, Citigroup Inc. boosted their target price on Brown & Brown from $45.00 to $46.00 and gave the company a neutral rating in a research note on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $44.22.

Brown & Brown (BRO) opened at 49.00 on Monday. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 25.78 and a beta of 0.79. The company’s 50 day moving average price is $47.72 and its 200-day moving average price is $44.37. Brown & Brown has a 12-month low of $36.05 and a 12-month high of $49.62.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.04. The business had revenue of $475.60 million for the quarter, compared to analyst estimates of $475.13 million. Brown & Brown had a return on equity of 10.99% and a net margin of 14.66%. Brown & Brown’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. On average, equities analysts anticipate that Brown & Brown will post $1.87 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Friday, October 27th will be paid a $0.15 dividend. The ex-dividend date is Thursday, October 26th. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. Brown & Brown’s payout ratio is presently 28.57%.

In other news, EVP Anthony T. Strianese sold 18,870 shares of Brown & Brown stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $44.49, for a total value of $839,526.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 16.98% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas grew its position in shares of Brown & Brown by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 9,529 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 105 shares in the last quarter. World Asset Management Inc grew its position in shares of Brown & Brown by 1.7% in the second quarter. World Asset Management Inc now owns 7,326 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 120 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of Brown & Brown by 2.8% in the second quarter. Pzena Investment Management LLC now owns 5,087 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 138 shares in the last quarter. State of Wisconsin Investment Board grew its position in shares of Brown & Brown by 0.6% in the second quarter. State of Wisconsin Investment Board now owns 23,381 shares of the financial services provider’s stock valued at $1,007,000 after purchasing an additional 140 shares in the last quarter. Finally, Rowland & Co. Investment Counsel ADV grew its position 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 valued at $193,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 72.18% of the company’s stock.

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.

Analyst Recommendations for Brown & Brown (NYSE:BRO)

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