Brown & Brown, Inc. (NYSE:BRO) Sees Large Increase in Short Interest

Brown & Brown, Inc. (NYSE:BRO - Get Free Report) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 3,990,000 shares, a growth of 22.8% from the May 15th total of 3,250,000 shares. Based on an average trading volume of 1,820,000 shares, the short-interest ratio is currently 2.2 days. Currently, 1.7% of the company's stock are short sold.

Brown & Brown Price Performance

NYSE:BRO traded up $0.43 during trading hours on Friday, reaching $108.72. 4,338,268 shares of the company were exchanged, compared to its average volume of 1,689,651. The company has a market capitalization of $31.17 billion, a P/E ratio of 30.28, a P/E/G ratio of 2.38 and a beta of 0.84. Brown & Brown has a 1-year low of $88.31 and a 1-year high of $125.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.52 and a quick ratio of 2.52. The business has a 50 day moving average of $111.56 and a 200 day moving average of $110.92.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the business posted $1.14 EPS. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts forecast that Brown & Brown will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.55%. The ex-dividend date was Monday, May 12th. Brown & Brown's dividend payout ratio is currently 16.71%.

Analyst Ratings Changes

Several research firms recently issued reports on BRO. Edward Jones began coverage on Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating on the stock. Barclays upped their target price on Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. UBS Group upped their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. Jefferies Financial Group upped their price objective on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $122.00 price objective (up previously from $116.00) on shares of Brown & Brown in a research note on Thursday, June 12th. 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 company's stock. Based on data from MarketBeat.com, Brown & Brown has an average rating of "Hold" and a consensus target price of $118.85.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Capital Investment Advisors LLC acquired a new stake in shares of Brown & Brown in the 1st quarter valued at about $1,929,000. Fifth Third Bancorp boosted its position in shares of Brown & Brown by 7.1% during the first quarter. Fifth Third Bancorp now owns 6,807 shares of the financial services provider's stock valued at $847,000 after buying an additional 450 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted 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 buying an additional 27,297 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Brown & Brown by 56.8% during the fourth quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider's stock valued at $19,365,000 after buying an additional 68,745 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in Brown & Brown in the fourth quarter worth $580,000. 71.01% of the stock is 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.