Brown & Brown, Inc. (NYSE:BRO) Sees Significant Increase in Short Interest

Brown & Brown, Inc. (NYSE:BRO) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 5,670,000 shares, a growth of 21.2% from the February 28th total of 4,680,000 shares. Based on an average daily trading volume, of 1,640,000 shares, the short-interest ratio is currently 3.5 days. Currently, 2.4% of the company’s stock are sold short.

Brown & Brown Stock Down 0.2 %

Shares of BRO stock traded down $0.24 during trading hours on Wednesday, reaching $123.87. The company had a trading volume of 1,180,877 shares, compared to its average volume of 1,392,465. The company has a market cap of $35.42 billion, a price-to-earnings ratio of 35.80, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown has a 12 month low of $80.33 and a 12 month high of $125.68. The business has a fifty day simple moving average of $113.71 and a 200-day simple moving average of $108.52.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) 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, research analysts expect that Brown & Brown 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 paid a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.48%. Brown & Brown’s payout ratio is presently 17.34%.

Wall Street Analysts Forecast Growth

BRO has been the topic of a number of research reports. Royal Bank of Canada upped their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley reiterated an “equal weight” rating and set a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. Bank of America raised their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Company lifted their price target on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $112.67.

Institutional Trading of Brown & Brown

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC bought a new position in Brown & Brown in the 4th quarter valued at $28,000. Johnson Financial Group Inc. grew its position in Brown & Brown by 534.1% during the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock valued at $29,000 after buying an additional 235 shares during the period. Y.D. More Investments Ltd raised 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 worth $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd bought a new stake in shares of Brown & Brown in the 4th quarter worth approximately $31,000. Finally, Sunbelt Securities Inc. lifted its stake in Brown & Brown by 581.8% in the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.