Brown & Brown (NYSE:BRO) Reaches New 1-Year High - Here's What Happened

Brown & Brown, Inc. (NYSE:BRO - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $121.30 and last traded at $121.02, with a volume of 1325066 shares changing hands. The stock had previously closed at $118.52.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Morgan Stanley reissued an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a research report on Tuesday. Bank of America raised their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods cut 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, Wells Fargo & Company increased their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $112.67.

Brown & Brown Stock Up 0.1 %

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 cap of $35.16 billion, a P/E ratio of 35.54, a P/E/G ratio of 2.93 and a beta of 0.86. The company's 50 day moving average price is $113.33 and its two-hundred day moving average price is $108.28.

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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, beating analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. As a group, research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders 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 annualized dividend and a dividend yield of 0.49%. Brown & Brown's dividend payout ratio is currently 17.34%.

Hedge Funds Weigh In On Brown & Brown

Hedge funds and other institutional investors have recently modified their holdings of the business. 111 Capital bought a new position in Brown & Brown in the fourth quarter worth approximately $208,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Brown & Brown by 206.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 42,456 shares of the financial services provider's stock valued at $4,331,000 after acquiring an additional 28,603 shares during the period. Wood Tarver Financial Group LLC bought a new position in shares of Brown & Brown in the 4th quarter worth $202,000. Siemens Fonds Invest GmbH raised its position in shares of Brown & Brown by 6.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 9,138 shares of the financial services provider's stock worth $932,000 after acquiring an additional 567 shares in the last quarter. Finally, Cim LLC lifted its stake in shares of Brown & Brown by 1.1% during the 4th quarter. Cim LLC now owns 14,436 shares of the financial services provider's stock worth $1,473,000 after purchasing an additional 159 shares during the last quarter. 71.01% of the stock is currently owned by 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.