Brown & Brown, Inc. (NYSE:BRO - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $119.24 and last traded at $118.59, with a volume of 96888 shares traded. The stock had previously closed at $118.54.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on BRO shares. Barclays increased their price objective on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 21st. Morgan Stanley started coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an "overweight" rating and a $134.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods reduced their price objective 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. Finally, Bank of America increased their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $113.17.
Check Out Our Latest Research Report on BRO
Brown & Brown Trading Up 1.2 %
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's 50 day moving average price is $106.55 and its 200-day moving average price is $106.07. The stock has a market capitalization of $34.30 billion, a P/E ratio of 34.67, a P/E/G ratio of 2.93 and a beta of 0.86.
Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating 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, equities research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.
Brown & Brown Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid 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 is presently 17.34%.
Institutional Investors Weigh In On Brown & Brown
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Brown & Brown by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after acquiring an additional 1,335,964 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Brown & Brown by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock valued at $1,316,259,000 after acquiring an additional 94,121 shares in the last quarter. Geode Capital Management LLC boosted its stake in Brown & Brown by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider's stock valued at $620,737,000 after acquiring an additional 118,569 shares in the last quarter. Capital World Investors boosted its stake in Brown & Brown by 15.6% in the fourth quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider's stock valued at $428,043,000 after acquiring an additional 566,116 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Brown & Brown by 11.4% in the fourth quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider's stock valued at $388,045,000 after acquiring an additional 388,411 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.
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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