Brown & Brown (NYSE:BRO) Sets New 52-Week Low – Should You Sell?

Brown & Brown, Inc. (NYSE:BRO)’s stock price hit a new 52-week low on Monday . The company traded as low as $69.33 and last traded at $68.93, with a volume of 1377628 shares. The stock had previously closed at $73.78.

Wall Street Analyst Weigh In

BRO has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their price target on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Wolfe Research started coverage on shares of Brown & Brown in a report on Thursday, November 20th. They issued a “peer perform” rating for the company. Bank of America dropped their price objective on Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, January 27th. Argus upgraded Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. Finally, Morgan Stanley cut their price objective on Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 29th. Three equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $90.64.

Brown & Brown Price Performance

The company has a quick ratio of 2.10, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average price is $78.53 and its 200 day moving average price is $86.07. The stock has a market cap of $23.42 billion, a PE ratio of 21.44, a P/E/G ratio of 2.23 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. As a group, equities analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 4th. Brown & Brown’s payout ratio is currently 20.63%.

Institutional Investors Weigh In On Brown & Brown

Hedge funds have recently modified their holdings of the business. Darwin Wealth Management LLC purchased a new position in shares of Brown & Brown in the 2nd quarter worth approximately $30,000. Cornerstone Planning Group LLC increased its stake in shares of Brown & Brown by 423.1% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 220 shares during the period. Motco acquired a new position in shares of Brown & Brown in the 2nd quarter valued at about $32,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Brown & Brown in the second quarter valued at $49,000. Finally, Evelyn Partners Investment Management LLP acquired a new position in Brown & Brown in the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.