Stocks of Brown & Brown Inc. (NYSE:BRO) traded higher last session on Wall Street, down -0.56% to $56.65.
According to the data, Brown & Brown Inc. (NYSE:BRO) has 12 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $72.00 and a low of $60.00, we find $64.00. Given the previous closing price of $56.97, this indicates a potential upside of 12.34 percent. BRO stock price is now -1.58% away from the 50-day moving average and -7.81% away from the 200-day moving average. The market capitalization of the company currently stands at $16.24B.
A total of 8 analysts have issued a hold rating and 3 have given it a buy rating. Brokers who have rated the stock have averaged $65.22 as their price target over the next twelve months.
With the price target of $62, Citigroup recently initiated with Neutral rating for Brown & Brown Inc. (NYSE: BRO). On July 12, 2022, Goldman recently initiated its ‘Neutral’ rating on the stock quoting a target price of $67, while ‘UBS’ rates the stock as ‘Neutral’.
In other news, GELLERSTEDT LAWRENCE L III, Director bought 1,800 shares of the company’s stock on May 19. The stock was bought for $98,910 at an average price of $54.95. Upon completion of the transaction, the Director now directly owns 12,884 shares in the company, valued at $0.73 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 05, Director Hays James Charles bought 5,000 shares of the business’s stock. A total of $294,500 was incurred on buying the stock at an average price of $58.90. This leaves the insider owning 359,603 shares of the company worth $20.37 million. Insiders disposed of 197,676 shares of company stock worth roughly $11.2 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BRO stock. A new stake in Brown & Brown Inc. shares was purchased by JUNTO CAPITAL MANAGEMENT LP during the first quarter worth $54,952,000. FARMER STEVEN PATRICK invested $34,771,000 in shares of BRO during the first quarter. In the first quarter, JACOBS LEVY EQUITY MANAGEMENT, INC acquired a new stake in Brown & Brown Inc. valued at approximately $5,619,000. PUTNAM INVESTMENTS LLC acquired a new stake in BRO for approximately $5,616,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND purchased a new stake in BRO valued at around $5,416,000 in the second quarter. In total, there are 836 active investors with 75.10% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $57.06 for Brown & Brown Inc. (NYSE: BRO). During the past 12 months, Brown & Brown Inc. has had a low of $52.91 and a high of $74.00. As of last week, the company has a debt-to-equity ratio of 0.95, a current ratio of 1.10, and a quick ratio of 1.10. The fifty day moving average price for BRO is $57.56 and a two-hundred day moving average price translates $61.45 for the stock.
The latest earnings results from Brown & Brown Inc. (NYSE: BRO) was released for Sep, 2022. The net profit margin was 18.10% and return on equity was 14.40% for BRO. For the current quarter, analysts expect BRO to generate $897.98M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/16/2022. Investors who held shares on 11/02/2022 were paid a $0.115 dividend. On an annualized basis, this represents a $0.46 dividend and a 0.81% percent yield. There was an ex-dividend date of 11/01/2022 for this dividend. In terms of dividend payout ratio, BRO is presently at 18.40%.
Brown & Brown Inc.(BRO) Company Profile
Brown & Brown, Inc. markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services. It serves commercial, public and quasi-public entities, professional, and individual customers. The National Programs segment offers professional liability and related package insurance products for dentistry, legal, eyecare, insurance, financial, physicians, real estate title professionals, as well as supplementary insurance products related to weddings, events, medical facilities, and cyber liabilities. This segment also offers outsourced product development, marketing, underwriting, actuarial, compliance, and claims and other administrative services to insurance carrier partners; and commercial and public entity-related programs, and flood insurance products. It serves through independent agents. The Wholesale Brokerage segment markets and sells excess and surplus commercial and personal lines insurance through independent agents and brokers. The Services segment offers third-party claims administration and medical utilization management services in the workers’ compensation and all-lines liability arenas, Medicare Set-aside, Social Security disability, Medicare benefits advocacy, and claims adjusting services. The company was founded in 1939 and is headquartered in Daytona Beach, Florida.