Notable Mover: Brown & Brown, Inc. Sets 52-Week High; Strong Momentum for Holders

Notable Mover: Brown & Brown, Inc. Sets 52 Week High; Strong Momentum for Holders

The stock of Brown & Brown, Inc. (NYSE:BRO) hit a new 52-week high and has $57.84 target or 45.00% above today’s $39.89 share price. The 9 months bullish chart indicates low risk for the $5.74B company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $57.84 price target is reached, the company will be worth $2.58B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 89,571 shares traded hands. Brown & Brown, Inc. (NYSE:BRO) has risen 11.67% since April 12, 2016 and is uptrending. It has outperformed by 6.68% the S&P500.

Brown & Brown, Inc. (NYSE:BRO) Ratings Coverage

Out of 14 analysts covering Brown & Brown (NYSE:BRO), 0 rate it a “Buy”, 4 “Sell”, while 10 “Hold”. This means 0 are positive. Brown & Brown has been the topic of 23 analyst reports since August 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Brown & Brown, Inc. (NYSE:BRO) on Wednesday, October 21 with “Sector Perform” rating. Barclays Capital maintained the shares of BRO in a report on Tuesday, July 19 with “Underweight” rating. The stock of Brown & Brown, Inc. (NYSE:BRO) has “Neutral” rating given on Wednesday, January 27 by Compass Point. The company was downgraded on Tuesday, September 1 by Zacks. The stock has “Neutral” rating given by Compass Point on Wednesday, July 20. Compass Point maintained Brown & Brown, Inc. (NYSE:BRO) rating on Tuesday, September 15. Compass Point has “Neutral” rating and $35 price target. As per Wednesday, January 13, the company rating was maintained by Keefe Bruyette & Woods. BMO Capital Markets downgraded Brown & Brown, Inc. (NYSE:BRO) on Friday, November 4 to “Underperform” rating. The stock of Brown & Brown, Inc. (NYSE:BRO) has “Underweight” rating given on Thursday, January 7 by Barclays Capital. The firm has “Neutral” rating by Suntrust Robinson given on Thursday, January 7.

According to Zacks Investment Research, “Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third party administration, managed health care, and Medicare set-aside services and programs. Providing service to business, public entity, individual, trade and professional association clients nationwide, the Company is ranked by Business Insurance magazine as the United States’ sixth largest independent insurance intermediary.”

Insitutional Activity: The institutional sentiment increased to 1.26 in 2016 Q2. Its up 0.12, from 1.14 in 2016Q1. The ratio is positive, as 23 funds sold all Brown & Brown, Inc. shares owned while 64 reduced positions. 18 funds bought stakes while 92 increased positions. They now own 100.91 million shares or 1.34% less from 102.28 million shares in 2016Q1.
Blackrock holds 0.01% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 152,695 shares. Profund Ltd Company holds 17,055 shares or 0.03% of its portfolio. Us Natl Bank De owns 17,166 shares or 0% of their US portfolio. Aperio Grp Limited Liability Corp holds 0% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 12,079 shares. Public Employees Retirement Association Of Colorado, a Colorado-based fund reported 29,314 shares. Suntrust Banks reported 69,283 shares or 0.02% of all its holdings. Moreover, Cibc Asset has 0% invested in Brown & Brown, Inc. (NYSE:BRO) for 6,677 shares. Signaturefd Ltd Com has invested 0% of its portfolio in Brown & Brown, Inc. (NYSE:BRO). Td Asset Management owns 65,453 shares or 0% of their US portfolio. Kerrisdale Advisers Limited Liability Company holds 721,609 shares or 4.34% of its portfolio. State Board Of Administration Of Florida Retirement Sys holds 0.02% or 197,482 shares in its portfolio. Hsbc Holdg Public Ltd Co holds 0.01% or 106,708 shares in its portfolio. Cambridge Inv Rech Advsr Inc accumulated 0.01% or 8,862 shares. State Street owns 5.94M shares or 0.02% of their US portfolio. Advantus Capital Mgmt accumulated 14,075 shares or 0.01% of the stock.

Insider Transactions: Since May 25, 2016, the stock had 0 buys, and 3 sales for $260,548 net activity. LLOYD ROBERT W had sold 2,971 shares worth $110,863. STRIANESE ANTHONY T also sold $96,228 worth of Brown & Brown, Inc. (NYSE:BRO) on Wednesday, May 25.

More news for Brown & Brown, Inc. (NYSE:BRO) were recently published by: Forbes.com, which released: “Ex-Dividend Reminder: Brown & Brown, Weyerhaeuser and Hope Bancorp” on October 24, 2016. Forbes.com‘s article titled: “Brown & Brown Stock Sees Short Interest Drop 10.5%” and published on October 26, 2016 is yet another important article.

BRO Company Profile

Brown & Brown, Inc., incorporated on January 2, 1959, is a diversified insurance agency providing wholesale brokerage and insurance programs and services. The Firm operates in four divisions: Retail Division, National Programs Division, Wholesale Brokerage Division, and Services Division. The Retail Division provides a range of insurance services and products to commercial, public entity, professional and individual customers. The National Programs Division provides professional liability and related package products for certain professionals, and markets targeted services and products to specific industries, trade groups, public entities, and market niches. The Wholesale Brokerage Division markets and sells excess and surplus commercial and personal insurance, and reinsurance, primarily through independent agents and brokers. The Services Division provides clients with third-party claims administration, consulting for the workers’ compensation insurance market, comprehensive medical utilization management services in both workers’ compensation and all-lines liability arenas, Medicare Secondary Payer statute compliance-related services, Social Security disability and Medicare benefits advocacy services, and catastrophe claims adjusting services. In January 2014, the Company announced that its subsidiary has acquired certain assets of ICA, Inc. In May 2014, the Company’s subsidiary, Brown & Brown of Kentucky, Inc., has acquired certain assets of Agency Management Corporation and Recreation Protection Management, Inc. In May 2014, the Company announced that Axiom Re, LP, an indirect subsidiary has acquired certain assets of Axia Strategies, Inc. In May 2014, Brown & Brown Inc completed the acquisition of The Wright Insurance Group, LLC ( TWIG ).

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment