Brown & Brown Inc. (BRO) Sets New 1-Year High at $37.98
Brown & Brown Inc. (NYSE:BRO) reached a new 52-week high on Friday . The company traded as high as $37.98 and last traded at $37.86, with a volume of 162,076 shares changing hands. The stock had previously closed at $37.58.
A number of equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $37.00 price objective (up from $34.00) on shares of Brown & Brown in a report on Tuesday, July 12th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $37.00 price objective (up from $35.00) on shares of Brown & Brown in a report on Wednesday, July 20th. Zacks Investment Research downgraded Brown & Brown from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Barclays PLC lifted their price objective on Brown & Brown from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Tuesday, July 19th. Finally, Compass Point lifted their price objective on Brown & Brown from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, July 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $35.00.
The firm has a 50-day moving average of $36.84 and a 200-day moving average of $35.52. The company has a market capitalization of $5.31 billion and a PE ratio of 21.23.
Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 18th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company earned $446.50 million during the quarter, compared to the consensus estimate of $439.70 million. During the same period in the prior year, the company earned $0.43 earnings per share. On average, equities analysts expect that Brown & Brown Inc. will post $1.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Shareholders of record on Tuesday, August 9th were issued a $0.1225 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.49 annualized dividend and a yield of 1.29%.
In other news, EVP Richard Freebourn sold 27,569 shares of the firm’s stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $35.69, for a total transaction of $983,937.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Anthony T. Strianese sold 1,444 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $37.02, for a total transaction of $53,456.88. The disclosure for this sale can be found here.
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services in the property, casualty and employee benefits areas. It provides customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services.