The stock of Brown & Brown, Inc. (NYSE:BRO) hit a new 52-week high and has $46.10 target or 6.00% above today’s $43.49 share price. The 5 months bullish chart indicates low risk for the $6.15 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $46.10 price target is reached, the company will be worth $369.00 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 221,174 shares traded hands. Brown & Brown, Inc. (NYSE:BRO) has risen 24.07% since April 28, 2016 and is uptrending. It has outperformed by 18.14% the S&P500.
Analysts await Brown & Brown, Inc. (NYSE:BRO) to report earnings on January, 23. They expect $0.41 EPS, 0.00% or $0.00 from last year’s $0.41 per share. BRO’s profit will be $57.98M for 26.52 P/E if the $0.41 EPS becomes a reality. After $0.52 actual EPS 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. The company was maintained on Wednesday, January 27 by Compass Point. The stock of Brown & Brown, Inc. (NYSE:BRO) has “Market Perform” rating given on Monday, March 21 by William Blair. Zacks upgraded the stock to “Hold” rating in Monday, September 7 report. The stock has “Underweight” rating given by Barclays Capital on Thursday, January 7. RBC Capital Markets maintained the shares of BRO in a report on Wednesday, July 20 with “Sector Perform” rating. On Tuesday, September 1 the stock rating was downgraded by Zacks to “Hold”. The rating was maintained by RBC Capital Markets with “Sector Perform” on Wednesday, October 21. As per Wednesday, July 20, the company rating was maintained by Compass Point. The stock of Brown & Brown, Inc. (NYSE:BRO) has “Underweight” rating given on Tuesday, June 28 by JP Morgan. The stock of Brown & Brown, Inc. (NYSE:BRO) has “Neutral” rating given on Tuesday, September 15 by Compass Point.
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 improved, 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.
Citigroup holds 144,152 shares or 0.01% of its portfolio. Metropolitan Life Ins Co Ny accumulated 109,493 shares or 0.03% of the stock. Retirement Of Alabama has 0.03% invested in the company for 149,917 shares. Weitz Invest Management has invested 0.21% of its portfolio in Brown & Brown, Inc. (NYSE:BRO). Blackrock Inc holds 0.01% of its portfolio in Brown & Brown, Inc. (NYSE:BRO) for 152,695 shares. Aqr Mngmt Lc, a Connecticut-based fund reported 7,025 shares. Vaughan David Invs Inc Il reported 100,000 shares or 0.21% of all its holdings. Liberty Mutual Gru Inc Asset Management Inc accumulated 0.07% or 49,945 shares. Stifel accumulated 108,682 shares or 0.02% of the stock. Price T Rowe Associates Incorporated Md, a Maryland-based fund reported 2.60 million shares. Thrivent Financial For Lutherans reported 193,030 shares or 0.03% of all its holdings. Goldman Sachs has invested 0.01% of its portfolio in Brown & Brown, Inc. (NYSE:BRO). Da Davidson, a Montana-based fund reported 4,636 shares. Savings Bank Of Mellon Corporation owns 1.21 million shares or 0.01% of their US portfolio. Tompkins Corp owns 405 shares or 0% of their US portfolio.
Insider Transactions: Since June 30, 2016, the stock had 0 insider purchases, and 4 insider sales for $1.88 million net activity. 1,444 shares with value of $53,457 were sold by STRIANESE ANTHONY T on Thursday, June 30. FREEBOURN RICHARD sold $1.07 million worth of stock. 15,000 shares were sold by PENNY JEROME SCOTT, worth $639,591 on Wednesday, November 23. Shares for $110,863 were sold by LLOYD ROBERT W.
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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