Shares of Brown & Brown, Inc. (NYSE:BRO) hit a new 52-week high during trading on Thursday . The stock traded as high as $30.04 and last traded at $29.96, with a volume of 26600 shares trading hands. The stock had previously closed at $29.92.
Several equities analysts have issued reports on BRO shares. Credit Suisse Group started coverage on Brown & Brown in a research report on Tuesday, August 7th. They issued a “neutral” rating and a $31.00 price objective for the company. Citigroup boosted their target price on Brown & Brown to $24.50 and gave the stock a “sell” rating in a research report on Tuesday, May 8th. Morgan Stanley boosted their target price on Brown & Brown from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Tuesday. ValuEngine upgraded Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Raymond James upped their price objective on Brown & Brown from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, April 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. Brown & Brown currently has a consensus rating of “Hold” and an average target price of $28.13.
The firm has a market cap of $8.28 billion, a P/E ratio of 31.16, a PEG ratio of 2.43 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.30.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Wednesday, August 8th were issued a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, August 7th. This represents a $0.30 dividend on an annualized basis and a yield of 1.01%. Brown & Brown’s dividend payout ratio is presently 31.25%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. grew its stake in Brown & Brown by 89.2% in the first quarter. Diamond Hill Capital Management Inc. now owns 3,113,860 shares of the financial services provider’s stock valued at $79,217,000 after acquiring an additional 1,467,666 shares during the period. Wells Fargo & Company MN grew its stake in Brown & Brown by 112.7% in the first quarter. Wells Fargo & Company MN now owns 11,850,475 shares of the financial services provider’s stock valued at $301,476,000 after acquiring an additional 6,279,191 shares during the period. Rhumbline Advisers grew its stake in Brown & Brown by 90.2% in the first quarter. Rhumbline Advisers now owns 540,060 shares of the financial services provider’s stock valued at $13,739,000 after acquiring an additional 256,077 shares during the period. Dupont Capital Management Corp grew its stake in Brown & Brown by 166.6% in the first quarter. Dupont Capital Management Corp now owns 29,478 shares of the financial services provider’s stock valued at $750,000 after acquiring an additional 18,419 shares during the period. Finally, Dean Capital Investments Management LLC grew its stake in Brown & Brown by 67.2% in the first quarter. Dean Capital Investments Management LLC now owns 14,668 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 5,897 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.
About Brown & Brown (NYSE:BRO)
Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.
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