Brown & Brown (BRO) Hits New 1-Year High at $32.22

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Shares of Brown & Brown, Inc. (NYSE:BRO) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $32.22 and last traded at $32.18, with a volume of 24218 shares changing hands. The stock had previously closed at $31.81.

A number of analysts have recently issued reports on BRO shares. Zacks Investment Research lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Thursday, January 31st. Wells Fargo & Co restated a “hold” rating and issued a $28.00 target price on shares of Brown & Brown in a report on Sunday, April 21st. Finally, SunTrust Banks increased their target price on Brown & Brown to $36.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $29.56.

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.93 and a quick ratio of 0.95. The firm has a market capitalization of $8.88 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 2.33 and a beta of 0.75.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, April 22nd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Brown & Brown had a return on equity of 12.47% and a net margin of 17.23%. The business had revenue of $617.50 million during the quarter, compared to analyst estimates of $600.51 million. During the same period last year, the company earned $0.33 earnings per share. Brown & Brown’s quarterly revenue was up 23.4% compared to the same quarter last year. Sell-side analysts expect that Brown & Brown, Inc. will post 1.36 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Wednesday, May 8th will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. Brown & Brown’s dividend payout ratio is 26.02%.

In other Brown & Brown news, EVP Anthony T. Strianese sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $29.17, for a total transaction of $1,020,950.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Robert W. Lloyd sold 10,601 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $29.29, for a total value of $310,503.29. The disclosure for this sale can be found here. 16.69% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its holdings in Brown & Brown by 1.5% during the first quarter. State of Alaska Department of Revenue now owns 25,248 shares of the financial services provider’s stock valued at $744,000 after buying an additional 362 shares in the last quarter. Quantamental Technologies LLC grew its position in shares of Brown & Brown by 25.4% in the first quarter. Quantamental Technologies LLC now owns 1,898 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 384 shares during the last quarter. First Hawaiian Bank grew its position in shares of Brown & Brown by 2.0% in the first quarter. First Hawaiian Bank now owns 23,157 shares of the financial services provider’s stock valued at $684,000 after purchasing an additional 461 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Brown & Brown by 4.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 13,547 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 585 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Brown & Brown by 3.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,518 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 626 shares during the last quarter. Institutional investors own 72.31% of the company’s stock.

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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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