Brown & Brown (NYSE:BRO) Given New $121.00 Price Target at Barclays

Brown & Brown (NYSE:BRO) had its target price upped by Barclays from $119.00 to $121.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

BRO has been the subject of a number of other reports. Bank of America lifted their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. UBS Group upped their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an “underperform” rating in a research report on Wednesday. Wells Fargo & Company upped their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Brown & Brown currently has an average rating of “Hold” and an average price target of $115.83.

Brown & Brown Trading Up 1.4 %

Shares of NYSE:BRO opened at $118.88 on Friday. Brown & Brown has a 12-month low of $80.33 and a 12-month high of $125.68. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $33.99 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The firm has a fifty day moving average of $116.13 and a two-hundred day moving average of $109.48.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts expect that Brown & Brown will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

Institutional Investors Weigh In On Brown & Brown

A number of institutional investors have recently added to or reduced their stakes in BRO. Gateway Investment Advisers LLC lifted its position in shares of Brown & Brown by 2.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 97 shares during the period. Journey Strategic Wealth LLC lifted its position in Brown & Brown by 2.3% in the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 99 shares during the period. CWA Asset Management Group LLC increased its holdings in Brown & Brown by 3.7% in the 4th quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $297,000 after buying an additional 103 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Brown & Brown by 3.4% during the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 103 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Brown & Brown by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 113 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

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.