The stock of Brown & Brown, Inc. (NYSE:BRO) reached all time high today, Nov, 22 and still has $45.78 target or 8.00% above today’s $42.39 share price. This indicates more upside for the $5.95 billion company. This technical setup was reported by Barchart.com. If the $45.78 PT is reached, the company will be worth $476.00M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 179,987 shares traded hands. Brown & Brown, Inc. (NYSE:BRO) has risen 22.06% since April 20, 2016 and is uptrending. It has outperformed by 17.50% 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. The rating was downgraded by Zacks on Monday, August 24 to “Hold”. The company was downgraded on Thursday, January 7 by SunTrust. The stock has “Sector Perform” rating given by RBC Capital Markets on Wednesday, July 20. On Wednesday, October 21 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The firm has “Hold” rating given on Tuesday, September 1 by Zacks. The rating was initiated by JP Morgan with “Underweight” on Tuesday, June 28. Compass Point maintained it with “Neutral” rating and $34.0 target price in Wednesday, January 27 report. Zacks upgraded the stock to “Hold” rating in Monday, September 7 report. As per Friday, November 4, the company rating was downgraded by BMO Capital Markets. The stock has “Underweight” rating given by Barclays Capital 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 1.42 in Q2 2016. Its up 0.16, from 1.26 in 2016Q1. The ratio increased, 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.
Nationwide Fund Advisors accumulated 0.06% or 342,368 shares. Barclays Public Limited Com last reported 3,597 shares in the company. Ameritas Invest Partners Incorporated holds 0.04% or 18,376 shares in its portfolio. Dekabank Deutsche Girozentrale has invested 0.01% of its portfolio in Brown & Brown, Inc. (NYSE:BRO). Wells Fargo Company Mn has invested 0.07% of its portfolio in Brown & Brown, Inc. (NYSE:BRO). The Arizona-based Tci Wealth Advsrs Inc has invested 0.01% in Brown & Brown, Inc. (NYSE:BRO). Bnp Paribas Inv Ptnrs Sa holds 0.01% or 19,316 shares in its portfolio. Guggenheim Cap Limited Liability accumulated 23,304 shares or 0% of the stock. Horizon Kinetics Lc has 0.01% invested in the company for 11,895 shares. Moreover, Texas Permanent School Fund has 0.04% invested in Brown & Brown, Inc. (NYSE:BRO) for 88,863 shares. Ubs Asset Mgmt Americas accumulated 0% or 107,978 shares. Ameriprise Financial holds 0.01% or 287,659 shares in its portfolio. Ny State Teachers Retirement holds 0.02% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 192,068 shares. The Pennsylvania-based Cookson Peirce has invested 0.2% in Brown & Brown, Inc. (NYSE:BRO). Argentus Mgmt Limited Liability Co last reported 3,637 shares in the company.
Insider Transactions: Since May 25, 2016, the stock had 0 insider purchases, and 2 sales for $164,320 net activity. $110,863 worth of Brown & Brown, Inc. (NYSE:BRO) was sold by LLOYD ROBERT W on Tuesday, September 20. 1,444 shares were sold by STRIANESE ANTHONY T, worth $53,457 on Thursday, June 30.
Another recent and important Brown & Brown, Inc. (NYSE:BRO) news was published by Forbes.com which published an article titled: “Ex-Dividend Reminder: Brown & Brown, Weyerhaeuser and Hope Bancorp” on October 24, 2016.
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 ).
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