Brown & Brown, Inc. (NYSE:BRO - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $114.45 and last traded at $114.08, with a volume of 224243 shares changing hands. The stock had previously closed at $112.60.
Analysts Set New Price Targets
A number of equities research analysts have commented on BRO shares. Royal Bank of Canada lifted their target price 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. Barclays lifted their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a report on Thursday, November 21st. Bank of America increased their target price on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. StockNews.com downgraded Brown & Brown from a "buy" rating to a "hold" rating in a research note on Saturday, November 2nd. Finally, Wells Fargo & Company upped their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $113.17.
Check Out Our Latest Stock Analysis on BRO
Brown & Brown Trading Up 1.8 %
The stock has a market capitalization of $33.91 billion, a PE ratio of 34.27, a PEG ratio of 2.93 and a beta of 0.86. The stock's 50 day moving average price is $106.24 and its 200-day moving average price is $105.86. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.
Brown & Brown (NYSE:BRO - Get Free Report) last issued 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, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.
Brown & Brown Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were issued a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. Brown & Brown's dividend payout ratio is presently 17.34%.
Institutional Investors Weigh In On Brown & Brown
A number of institutional investors have recently added to or reduced their stakes in BRO. Vanguard Group Inc. boosted its position in shares of Brown & Brown by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after acquiring an additional 1,335,964 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Brown & Brown by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock worth $1,316,259,000 after purchasing an additional 94,121 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Brown & Brown by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider's stock valued at $620,737,000 after purchasing an additional 118,569 shares during the last quarter. Capital World Investors boosted its holdings in shares of Brown & Brown by 15.6% during the 4th quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider's stock valued at $428,043,000 after purchasing an additional 566,116 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Brown & Brown by 11.4% during the fourth quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider's stock valued at $388,045,000 after purchasing an additional 388,411 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.
About Brown & Brown
(
Get Free Report)
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.
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