Shares of Brown & Brown, Inc. (NYSE:BRO - Get Free Report) saw unusually-strong trading volume on Thursday after BMO Capital Markets raised their price target on the stock from $116.00 to $122.00. BMO Capital Markets currently has an outperform rating on the stock. Approximately 2,476,189 shares were traded during mid-day trading, an increase of 56% from the previous session's volume of 1,586,285 shares.The stock last traded at $106.40 and had previously closed at $104.48.
A number of other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a research report on Monday, May 5th. Morgan Stanley reiterated an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. Jefferies Financial Group boosted their price target on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company raised their target price on shares of Brown & Brown from $125.00 to $127.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Barclays upped their price objective on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $118.69.
Get Our Latest Research Report on BRO
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in BRO. Capital Investment Advisors LLC acquired a new position in shares of Brown & Brown during the first quarter valued at about $1,929,000. Arrowstreet Capital Limited Partnership increased its position in shares of Brown & Brown by 395.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider's stock valued at $3,489,000 after acquiring an additional 27,297 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Brown & Brown by 56.8% during the 4th quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider's stock worth $19,365,000 after purchasing an additional 68,745 shares during the period. FORA Capital LLC bought a new stake in Brown & Brown in the fourth quarter worth about $580,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Brown & Brown by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider's stock worth $138,394,000 after purchasing an additional 40,881 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.
Brown & Brown Price Performance
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 stock has a market cap of $30.63 billion, a PE ratio of 30.89, a PEG ratio of 2.93 and a beta of 0.84. The business has a 50-day moving average price of $112.49 and a 200 day moving average price of $111.12.
Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The company had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter last year, the firm posted $1.14 earnings per share. Brown & Brown's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.
Brown & Brown Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were issued a $0.15 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.56%. Brown & Brown's payout ratio is currently 16.71%.
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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