Brown & Brown, Inc. (NYSE:BRO) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $45.80 and last traded at $45.87, with a volume of 197,802 shares trading hands. The stock had previously closed at $45.48.

Several brokerages recently weighed in on BRO. BidaskClub raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Zacks Investment Research upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Wells Fargo & Company reiterated a “hold” rating on shares of Brown & Brown in a research note on Tuesday, August 15th. Royal Bank Of Canada restated a “hold” rating and set a $44.00 target price on shares of Brown & Brown in a research report on Tuesday, June 13th. Finally, Citigroup Inc. upped their target price on shares of Brown & Brown from $45.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $43.43.

The company’s 50 day moving average price is $44.17 and its 200-day moving average price is $43.25. The stock has a market capitalization of $6.42 billion, a P/E ratio of 24.53 and a beta of 0.77.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, July 17th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. Brown & Brown had a net margin of 14.52% and a return on equity of 11.10%. The business had revenue of $466.30 million during the quarter, compared to analysts’ expectations of $465.48 million. During the same quarter in the prior year, the business posted $0.47 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts forecast that Brown & Brown, Inc. will post $1.85 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 9th were given a $0.135 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.54 annualized dividend and a yield of 1.18%. Brown & Brown’s dividend payout ratio (DPR) is 29.03%.

In other Brown & Brown news, EVP Anthony T. Strianese sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $44.59, for a total transaction of $445,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.98% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of BRO. BlackRock Inc. grew its stake in shares of Brown & Brown by 5,821.6% during the 1st quarter. BlackRock Inc. now owns 9,491,726 shares of the financial services provider’s stock worth $395,994,000 after purchasing an additional 9,331,437 shares during the period. Renaissance Technologies LLC grew its stake in Brown & Brown by 2,090.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,086,300 shares of the financial services provider’s stock valued at $45,320,000 after acquiring an additional 1,036,700 shares during the last quarter. Vanguard Group Inc. grew its stake in Brown & Brown by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 10,758,271 shares of the financial services provider’s stock valued at $448,836,000 after acquiring an additional 745,912 shares during the last quarter. Victory Capital Management Inc. grew its stake in Brown & Brown by 31.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,091,303 shares of the financial services provider’s stock valued at $90,072,000 after acquiring an additional 499,043 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Brown & Brown by 7.3% in the 2nd quarter. Wells Fargo & Company MN now owns 5,673,614 shares of the financial services provider’s stock valued at $244,362,000 after acquiring an additional 388,294 shares during the last quarter. 72.18% of the stock is currently owned by institutional investors and hedge funds.

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Brown & Brown Company Profile

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 its customers with non-investment insurance contracts, as well as other customized risk management products and services.

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