Brown & Brown (NYSE:BRO) Hits New 12-Month High – Still a Buy?

Brown & Brown, Inc. (NYSE:BRO) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $121.30 and last traded at $121.02, with a volume of 1325066 shares changing hands. The stock had previously closed at $118.52.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America upped their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Morgan Stanley began coverage on Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company upped their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Price Performance

The business’s 50 day simple moving average is $111.55 and its 200-day simple moving average is $107.70. The stock has a market capitalization of $34.60 billion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.50%. Brown & Brown’s payout ratio is 17.34%.

Institutional Trading of Brown & Brown

A number of institutional investors have recently made changes to their positions in BRO. 111 Capital bought a new stake in Brown & Brown during the fourth quarter worth approximately $208,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Brown & Brown by 206.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 42,456 shares of the financial services provider’s stock valued at $4,331,000 after buying an additional 28,603 shares during the period. Wood Tarver Financial Group LLC bought a new position in Brown & Brown during the fourth quarter valued at about $202,000. Siemens Fonds Invest GmbH grew its holdings in Brown & Brown by 6.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 9,138 shares of the financial services provider’s stock worth $932,000 after acquiring an additional 567 shares during the period. Finally, Cim LLC lifted its holdings in Brown & Brown by 1.1% in the 4th quarter. Cim LLC now owns 14,436 shares of the financial services provider’s stock valued at $1,473,000 after acquiring an additional 159 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

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.