Brown & Brown (NYSE:BRO) Hits New 12-Month High - Here's What Happened

Brown & Brown, Inc. (NYSE:BRO - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $124.56 and last traded at $123.70, with a volume of 115668 shares traded. The stock had previously closed at $122.93.

Analyst Ratings Changes

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

Brown & Brown Stock Up 0.2 %

The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The business's 50-day simple moving average is $114.46 and its 200 day simple moving average is $108.78. The firm has a market cap of $35.59 billion, a PE ratio of 35.97, a P/E/G ratio of 2.93 and a beta of 0.86.

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Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate 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, equities research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently declared 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 was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.48%. Brown & Brown's dividend payout ratio is currently 17.34%.

Hedge Funds Weigh In On Brown & Brown

Several hedge funds and other institutional investors have recently bought and sold shares of BRO. Versant Capital Management Inc grew its position in Brown & Brown by 77.2% during the 1st quarter. Versant Capital Management Inc now owns 732 shares of the financial services provider's stock worth $91,000 after purchasing an additional 319 shares during the period. Insight Wealth Strategies LLC lifted its holdings in Brown & Brown by 39.3% in the first quarter. Insight Wealth Strategies LLC now owns 36,524 shares of the financial services provider's stock valued at $4,544,000 after acquiring an additional 10,301 shares during the period. Legacy Wealth Management LLC MS acquired a new stake in shares of Brown & Brown during the 1st quarter worth approximately $204,000. 111 Capital purchased a new position in shares of Brown & Brown during the 4th quarter valued at approximately $208,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake 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 purchasing an additional 28,603 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

About Brown & Brown

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.