Brown & Brown (NYSE:BRO) Reaches New 1-Year High at $40.86

Brown & Brown, Inc. (NYSE:BRO) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $40.86 and last traded at $40.86, with a volume of 8409 shares. The stock had previously closed at $40.59.

A number of research firms recently issued reports on BRO. ValuEngine lowered Brown & Brown from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Morgan Stanley raised Brown & Brown from an “underweight” rating to an “equal” rating and set a $38.00 price target on the stock in a report on Thursday, December 5th. SunTrust Banks reissued a “buy” rating and set a $46.00 price target on shares of Brown & Brown in a report on Wednesday. Raymond James raised their price target on Brown & Brown from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Barclays raised their price target on Brown & Brown from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $36.20.

The stock has a fifty day simple moving average of $39.13 and a two-hundred day simple moving average of $36.91. The company has a market cap of $11.31 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 2.66 and a beta of 0.69. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.39 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.39. Brown & Brown had a return on equity of 12.39% and a net margin of 17.04%. The company had revenue of $618.70 million for the quarter, compared to analyst estimates of $610.36 million. During the same quarter in the previous year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Brown & Brown, Inc. will post 1.39 EPS for the current fiscal year.

In other Brown & Brown news, EVP Jerome Scott Penny sold 30,000 shares of Brown & Brown stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $39.47, for a total value of $1,184,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 16.69% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allred Capital Management LLC acquired a new stake in shares of Brown & Brown during the 4th quarter valued at approximately $33,000. Cullen Frost Bankers Inc. lifted its position in shares of Brown & Brown by 95.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 885 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 432 shares during the period. Usca Ria LLC acquired a new stake in shares of Brown & Brown during the 3rd quarter valued at approximately $38,000. First Mercantile Trust Co. acquired a new stake in shares of Brown & Brown during the 3rd quarter valued at approximately $65,000. Finally, NEXT Financial Group Inc acquired a new stake in shares of Brown & Brown during the 3rd quarter valued at approximately $150,000. 70.18% of the stock is currently owned by institutional investors.

Brown & Brown Company Profile (NYSE:BRO)

Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.

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