Brown & Brown, Inc. (NYSE:BRO) shares reached a new 52-week high during 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.

A number of research analysts have commented on the stock. Zacks Investment Research lowered shares of Brown & Brown from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. BidaskClub upgraded shares of Brown & Brown from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Wells Fargo & Company restated 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 issued a $44.00 price objective on shares of Brown & Brown in a research note on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $43.00 price objective on shares of Brown & Brown in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.43.

The stock has a 50-day moving average price of $44.31 and a 200 day moving average price of $43.29. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 24.61 and a beta of 0.77.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, July 17th. The financial services provider reported $0.49 earnings per share for the quarter, topping the Zacks’ 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 for the quarter, compared to analysts’ expectations of $465.48 million. During the same quarter last year, the company earned $0.47 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts predict that Brown & Brown, Inc. will post $1.85 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 9th were issued a $0.135 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.17%. Brown & Brown’s dividend payout ratio (DPR) is presently 29.03%.

In related news, EVP Anthony T. Strianese sold 18,870 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $44.49, for a total value of $839,526.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.98% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in BRO. IFP Advisors Inc increased its stake in Brown & Brown by 9.8% during the 2nd quarter. IFP Advisors Inc now owns 2,823 shares of the financial services provider’s stock valued at $122,000 after buying an additional 251 shares during the period. Glen Harbor Capital Management LLC increased its stake in Brown & Brown by 2.3% during the 1st quarter. Glen Harbor Capital Management LLC now owns 3,632 shares of the financial services provider’s stock valued at $152,000 after buying an additional 80 shares during the period. Mosaic Family Wealth LLC increased its stake in Brown & Brown by 5.9% during the 2nd quarter. Mosaic Family Wealth LLC now owns 4,208 shares of the financial services provider’s stock valued at $181,000 after buying an additional 235 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Brown & Brown by 10.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,322 shares of the financial services provider’s stock valued at $186,000 after buying an additional 405 shares during the period. Finally, Rowland & Co. Investment Counsel ADV increased its stake in Brown & Brown by 4.1% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 4,465 shares of the financial services provider’s stock valued at $193,000 after buying an additional 175 shares during the period. 72.18% of the stock is currently owned by hedge funds and other institutional investors.

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About Brown & Brown

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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