Brown & Brown (NYSE:BRO) Reaches New 1-Year 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. The stock had previously closed at $118.65.

Analyst Upgrades and Downgrades

BRO has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Royal Bank of Canada upped their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted 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. Morgan Stanley assumed coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. Finally, Barclays raised their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $113.17.

Brown & Brown Trading Down 1.5 %

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 stock has a market capitalization of $33.69 billion, a PE ratio of 33.96, a PEG ratio of 2.93 and a beta of 0.85. The business’s 50-day moving average is $108.80 and its two-hundred day moving average is $106.89.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders 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 yield of 0.51%. Brown & Brown’s payout ratio is 17.34%.

Institutional Trading of Brown & Brown

Hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Brown & Brown in the third quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Brown & Brown in the fourth quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Brown & Brown during the 3rd quarter worth $29,000. Johnson Financial Group Inc. grew its stake in shares of Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 235 shares during the period. Finally, Y.D. More Investments Ltd increased its holdings in shares of Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.