Fintel reports that on March 13, 2024, B of A Securities downgraded their outlook for Brown & Brown (NYSE:BRO) from Neutral to Underperform .

Analyst Price Forecast Suggests 0.11% Upside

As of March 11, 2024, the average one-year price target for Brown & Brown is 85.61. The forecasts range from a low of 75.75 to a high of $96.60. The average price target represents an increase of 0.11% from its latest reported closing price of 85.51.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Brown & Brown is 4,343MM, an increase of 3.29%. The projected annual non-GAAP EPS is 2.77.

Brown & Brown Declares $0.13 Dividend

On January 17, 2024 the company declared a regular quarterly dividend of $0.13 per share ($0.52 annualized). Shareholders of record as of February 2, 2024 received the payment on February 14, 2024. Previously, the company paid $0.13 per share.

At the current share price of $85.51 / share, the stock's dividend yield is 0.61%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.76%, the lowest has been 0.56%, and the highest has been 1.10%. The standard deviation of yields is 0.12 (n=234).

The current dividend yield is 1.29 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.17. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.41%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1301 funds or institutions reporting positions in Brown & Brown. This is an increase of 86 owner(s) or 7.08% in the last quarter. Average portfolio weight of all funds dedicated to BRO is 0.27%, a decrease of 10.62%. Total shares owned by institutions increased in the last three months by 1.30% to 241,425K shares. The put/call ratio of BRO is 0.15, indicating a bullish outlook.

What are Other Shareholders Doing?

Select Equity Group holds 14,310K shares representing 5.01% ownership of the company. In it's prior filing, the firm reported owning 14,754K shares, representing a decrease of 3.10%. The firm decreased its portfolio allocation in BRO by 14.21% over the last quarter.

Principal Financial Group holds 12,326K shares representing 4.31% ownership of the company. In it's prior filing, the firm reported owning 12,032K shares, representing an increase of 2.39%. The firm decreased its portfolio allocation in BRO by 48.93% over the last quarter.

PMSBX - MidCap Fund (f holds 8,704K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 8,666K shares, representing an increase of 0.44%. The firm increased its portfolio allocation in BRO by 10.30% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,177K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 7,078K shares, representing an increase of 1.38%. The firm decreased its portfolio allocation in BRO by 7.74% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 5,769K shares representing 2.02% ownership of the company. In it's prior filing, the firm reported owning 5,656K shares, representing an increase of 1.95%. The firm decreased its portfolio allocation in BRO by 8.28% over the last quarter.

Brown & Brown Background Information
(This description is provided by the company.)

Brown & Brown, Inc. is a leading insurance brokerage firm, providing risk management solutions to individuals and businesses. With more than 80 years of proven success and thousands of teammates, the company offers reliable knowledge for its customers and strives to provide a higher service.