Brown & Brown (NYSE:BRO) Hits New 52-Week High – Here’s What Happened

Shares of Brown & Brown, Inc. (NYSE:BRO) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $121.25 and last traded at $120.53, with a volume of 336001 shares traded. The stock had previously closed at $118.65.

Analyst Ratings Changes

A number of research analysts have recently commented on BRO shares. Morgan Stanley initiated coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. Bank of America boosted their target price on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Wells Fargo & Company raised their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods lowered their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Finally, Royal Bank of Canada raised their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Stock Up 0.8 %

The firm has a market capitalization of $34.20 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 2.93 and a beta of 0.86. 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 company’s 50 day moving average price is $108.13 and its 200 day moving average price is $106.66.

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

Brown & Brown Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.50%. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

Hedge Funds Weigh In On Brown & Brown

A number of large investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in shares of Brown & Brown during the third quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown during the 4th quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Brown & Brown during the third quarter valued at approximately $29,000. Johnson Financial Group Inc. raised its stake in Brown & Brown by 534.1% in the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 235 shares during the last quarter. Finally, Y.D. More Investments Ltd grew its holdings in shares of Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after buying an additional 162 shares in the last quarter. 71.01% of the stock is currently 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.