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

Brown & Brown, Inc. (NYSE:BRO - Get Free Report) saw a large 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 daily volume of 1,820,000 shares, the short-interest ratio is currently 2.2 days. Approximately 1.7% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BRO. Jefferies Financial Group raised their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. BMO Capital Markets restated an "outperform" rating and set a $122.00 price target (up previously from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $127.00 price target (up previously from $125.00) on shares of Brown & Brown in a research report on Thursday, June 12th. Barclays lifted their price objective on Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Finally, Keefe, Bruyette & Woods upped their target price on Brown & Brown from $100.00 to $102.00 and gave the company an "underperform" rating in a report on Friday, June 13th. One 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.com, Brown & Brown currently has an average rating of "Hold" and a consensus target price of $118.85.

Institutional Investors Weigh In On Brown & Brown

Large investors have recently bought and sold shares of the company. Bares Capital Management Inc. acquired a new position in Brown & Brown during the first quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Brown & Brown during the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. increased its holdings in shares of Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after buying an additional 235 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after buying an additional 256 shares during the period. Finally, Optimum Investment Advisors acquired a new position in Brown & Brown in the first quarter valued at approximately $31,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Trading Up 0.2%

Shares of NYSE:BRO traded up $0.19 on Thursday, hitting $108.31. 3,705,520 shares of the company's stock were exchanged, compared to its average volume of 1,676,821. The stock has a market capitalization of $31.05 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.38 and a beta of 0.84. Brown & Brown has a 12 month low of $88.31 and a 12 month 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's 50 day simple moving average is $111.77 and its two-hundred day simple moving average is $110.94.

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 (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The firm's revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 earnings per share. Analysts anticipate that Brown & Brown will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

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

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.