Brown & Brown (NYSE:BRO) Given New $117.00 Price Target at Bank of America

Brown & Brown (NYSE:BRO - Free Report) had its price target boosted by Bank of America from $116.00 to $117.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the financial services provider's stock.

A number of other research firms have also weighed in on BRO. Truist Financial raised their price objective on Brown & Brown from $116.00 to $118.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Barclays raised their price target on Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. Royal Bank of Canada upped their price target on shares of Brown & Brown from $113.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Brown & Brown from a "buy" rating to a "hold" rating in a research note on Saturday, November 2nd. Finally, Jefferies Financial Group upped their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown presently has an average rating of "Hold" and a consensus price target of $113.17.

Brown & Brown Stock Down 0.8 %

Shares of NYSE:BRO traded down $0.81 during midday trading on Tuesday, reaching $104.65. The company's stock had a trading volume of 1,781,720 shares, compared to its average volume of 1,677,815. The company has a quick ratio of 1.73, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $105.40 and a 200-day moving average of $104.09. The firm has a market capitalization of $29.93 billion, a P/E ratio of 30.25, a PEG ratio of 2.68 and a beta of 0.85. Brown & Brown has a 12-month low of $75.79 and a 12-month high of $114.15.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, research analysts anticipate that Brown & Brown will post 4.15 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Wednesday, February 5th. Brown & Brown's payout ratio is currently 17.34%.

Institutional Investors Weigh In On Brown & Brown

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group bought a new stake in Brown & Brown during the third quarter valued at approximately $26,000. ST Germain D J Co. Inc. grew its position in shares of Brown & Brown by 298.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 200 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Brown & Brown in the 3rd quarter worth $29,000. Y.D. More Investments Ltd increased its stake in shares of Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after purchasing an additional 162 shares in the last quarter. Finally, R Squared Ltd bought a new position in Brown & Brown in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.