The stock of Brown & Brown Inc. (NYSE:BRO) last traded at $70.00, down -0.64% from the previous session.
Data from the available sources indicates that Brown & Brown Inc. (NYSE:BRO) is covered by 13 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $85.00 and a low of $70.00, we find $76.00. Given the previous closing price of $70.45, this indicates a potential upside of 7.88 percent. BRO stock price is now 4.78% away from the 50-day moving average and 15.27% away from the 200-day moving average. The market capitalization of the company currently stands at $19.84B.
In total, 8 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $76.40 as their price target over the next twelve months.
With the price target enhanced from $73 to $76, Keefe Bruyette Downgraded its rating from Outperform to Mkt Perform for Brown & Brown Inc. (NYSE: BRO).
In other news, Masojada Bronislaw Edmund, Director bought 4,000 shares of the company’s stock on Jun 21. The stock was bought for $263,120 at an average price of $65.78. Upon completion of the transaction, the Director now directly owns 4,000 shares in the company, valued at $0.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 01, Director PROCTOR H PALMER JR sold 448 shares of the business’s stock. A total of $29,425 was realized by selling the stock at an average price of $65.68. Insiders disposed of 564,172 shares of company stock worth roughly $39.49 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 BROOKFIELD CORP /ON/ during the first quarter worth $26,794,000. COOKSON PEIRCE & CO INC invested $17,907,000 in shares of BRO during the first quarter. In the first quarter, HOLOCENE ADVISORS, LP acquired a new stake in Brown & Brown Inc. valued at approximately $7,749,000. WEDGE CAPITAL MANAGEMENT L L P/NC acquired a new stake in BRO for approximately $5,818,000. OCCUDO QUANTITATIVE STRATEGIES LP purchased a new stake in BRO valued at around $4,031,000 in the second quarter. In total, there are 851 active investors with 75.10% ownership of the company’s stock.
With an opening price of $70.08 on Tuesday morning, Brown & Brown Inc. (NYSE: BRO) set off the trading day. During the past 12 months, Brown & Brown Inc. has had a low of $52.82 and a high of $72.99. As of last week, the company has a debt-to-equity ratio of 0.75, a current ratio of 1.20, and a quick ratio of 1.20. According to the stock market information, the enterprise value for the company is $23.22B, which is based on a 27.16 price-to-earnings ratio, a 2.05 price-to-earnings-growth ratio, and a beta of 0.76. The fifty day moving average price for BRO is $66.88 and a two-hundred day moving average price translates $60.77 for the stock.
The latest earnings results from Brown & Brown Inc. (NYSE: BRO) was released for Jun, 2023. The net profit margin was 18.00% and return on equity was 15.30% for BRO. For the current quarter, analysts expect BRO to generate $1.03B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/16/2023. Investors who held shares on 08/09/2023 were paid a $0.115 dividend. On an annualized basis, this represents a $0.46 dividend and a 0.66% percent yield. There was an ex-dividend date of 08/08/2023 for this dividend. In terms of dividend payout ratio, BRO is presently at 17.30%.
Brown & Brown Inc.(BRO) Company Profile
Brown & Brown, Inc. markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, 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 provides public entity-related and specialty programs through a network of independent agents; and program management services for insurance carrier partners. 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. Brown & Brown, Inc. was founded in 1939 and is headquartered in Daytona Beach, Florida.
