Brown & Brown (NYSE:BRO) Trading Down 5.2% - What's Next?

Brown & Brown, Inc. (NYSE:BRO - Get Free Report) traded down 5.2% during trading on Friday . The company traded as low as $111.99 and last traded at $111.65. 451,460 shares traded hands during trading, a decline of 68% from the average session volume of 1,431,727 shares. The stock had previously closed at $117.76.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Jefferies Financial Group raised their target price on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research report on Friday, April 11th. UBS Group lifted their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 9th. Royal Bank of Canada lifted their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Edward Jones initiated coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and an average target price of $117.50.

Brown & Brown Stock Performance

The firm has a 50 day moving average price of $118.08 and a 200-day moving average price of $110.62. The stock has a market capitalization of $32.84 billion, a PE ratio of 33.20, a PEG ratio of 2.93 and a beta of 0.75. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.52%. Brown & Brown's dividend payout ratio is currently 17.34%.

Hedge Funds Weigh In On Brown & Brown

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown in the fourth quarter valued at approximately $28,000. Johnson Financial Group Inc. increased its holdings in shares of Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 235 shares in the last quarter. Y.D. More Investments Ltd lifted 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 valued at $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd purchased a new stake in Brown & Brown during the fourth quarter worth $31,000. Finally, Sunbelt Securities Inc. grew its position in Brown & Brown by 581.8% during the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after buying an additional 256 shares during the period. Institutional investors and hedge funds 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.