Stock On Watch: Brown & Brown, Inc.’s Trend Up, Especially After Today’s 52-Week High Milestone

Stock On Watch: Brown & Brown, Inc.'s Trend Up, Especially After Today's 52 Week High Milestone

The stock of Brown & Brown, Inc. (NYSE:BRO) hit a new 52-week high and has $45.41 target or 6.00% above today’s $42.84 share price. The 6 months bullish chart indicates low risk for the $6.06B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $45.41 price target is reached, the company will be worth $363.60 million 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 278,357 shares traded hands. Brown & Brown, Inc. (NYSE:BRO) has risen 24.31% since April 21, 2016 and is uptrending. It has outperformed by 18.99% the S&P500.

Analysts await Brown & Brown, Inc. (NYSE:BRO) to report earnings on January, 23. They expect $0.41 earnings per share, 0.00% or $0.00 from last year’s $0.41 per share. BRO’s profit will be $58.00M for 26.12 P/E if the $0.41 EPS becomes a reality. After $0.52 actual earnings per share reported by Brown & Brown, Inc. for the previous quarter, Wall Street now forecasts -21.15% negative EPS growth.

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. On Tuesday, June 28 the stock rating was initiated by JP Morgan with “Underweight”. BMO Capital Markets downgraded it to “Underperform” rating and $37 target price in Friday, November 4 report. RBC Capital Markets maintained it with “Sector Perform” rating and $37 target price in Wednesday, July 20 report. Compass Point maintained it with “Neutral” rating and $35 target price in Tuesday, September 15 report. The stock of Brown & Brown, Inc. (NYSE:BRO) has “Hold” rating given on Tuesday, September 1 by Zacks. Deutsche Bank downgraded Brown & Brown, Inc. (NYSE:BRO) on Monday, October 24 to “Hold” rating. The firm has “Neutral” rating given on Thursday, January 7 by Suntrust Robinson. The firm has “Market Perform” rating given on Wednesday, January 13 by Keefe Bruyette & Woods. The rating was downgraded by Barclays Capital on Thursday, January 7 to “Underweight”. Barclays Capital maintained Brown & Brown, Inc. (NYSE:BRO) on Tuesday, July 19 with “Underweight” rating.

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 2016 Q2. Its up 0.16, from 1.26 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.
Capstone Asset Mngmt has invested 0.01% of its portfolio in Brown & Brown, Inc. (NYSE:BRO). Moreover, Thrivent Financial For Lutherans has 0.03% invested in Brown & Brown, Inc. (NYSE:BRO) for 193,030 shares. Hotchkis & Wiley Cap Mgmt Ltd holds 0.37% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 2.29 million shares. The Tennessee-based Weaver C Barksdale has invested 0.01% in Brown & Brown, Inc. (NYSE:BRO). Cacti Asset Mgmt Ltd Liability Co, a Georgia-based fund reported 19,701 shares. Phocas accumulated 128,142 shares or 0.35% of the stock. Comerica Bancorporation accumulated 80,844 shares or 0.03% of the stock. South Dakota Inv Council has 7,000 shares for 0.01% of their US portfolio. Joel Isaacson And Limited Company reported 100 shares or 0% of all its holdings. Ruggie Gru holds 0.04% or 1,074 shares in its portfolio. Renaissance Lc holds 0% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 36,900 shares. Polar Cap Llp owns 375,000 shares or 0.27% of their US portfolio. The New Jersey-based Princeton Alpha Mngmt Limited Partnership has invested 0.05% in Brown & Brown, Inc. (NYSE:BRO). Confluence Invest Management Llc holds 0.8% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 777,334 shares. Ww Asset Management, a Michigan-based fund reported 5,655 shares.

Insider Transactions: Since May 25, 2016, the stock had 0 insider purchases, and 2 sales for $164,320 net activity. STRIANESE ANTHONY T also sold $96,228 worth of Brown & Brown, Inc. (NYSE:BRO) shares. On Tuesday, September 20 LLOYD ROBERT W sold $110,863 worth of the stock or 2,971 shares.

Another recent and important Brown & Brown, Inc. (NYSE:BRO) news was published by Businessinsurance.com which published an article titled: “Top insurance brokers: Brown & Brown Inc.” on July 20, 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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