Morgan Stanley Reaffirms Equal Weight Rating for Brown & Brown (NYSE:BRO)

Morgan Stanley reaffirmed their equal weight rating on shares of Brown & Brown (NYSE:BRO - Free Report) in a research report report published on Tuesday morning, MarketBeat.com reports. They currently have a $128.00 price target on the financial services provider's stock.

A number of other research firms also recently issued reports on BRO. Bank of America lifted their target price on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $112.67.

Brown & Brown Stock Up 0.1 %

NYSE BRO traded up $0.07 on Tuesday, reaching $122.97. The company had a trading volume of 1,650,467 shares, compared to its average volume of 1,385,729. The company's fifty day moving average is $113.33 and its 200-day moving average is $108.31. The firm has a market capitalization of $35.16 billion, a price-to-earnings ratio of 35.54, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown has a 1-year low of $80.33 and a 1-year high of $123.24.

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Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, research analysts forecast that Brown & Brown will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.49%. Brown & Brown's payout ratio is 17.34%.

Institutional Trading of Brown & Brown

A number of large investors have recently added to or reduced their stakes in BRO. Brooklyn Investment Group purchased a new stake in shares of Brown & Brown during the 3rd quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Brown & Brown in the fourth quarter worth $28,000. Johnson Financial Group Inc. boosted its holdings in shares of Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after acquiring an additional 235 shares during the period. Y.D. More Investments Ltd raised its stake in shares of Brown & Brown by 122.7% during 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. Finally, R Squared Ltd bought a new stake in shares of Brown & Brown during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Company Profile

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.