Brown & Brown Hits 52-Week High: Will The Stock Rally Ahead?
Zacks Investment Research | May 22, 2018 11:11PM ET
Shares of Brown & Brown, Inc. (NYSE:BRO) hit a new 52-week high of $28.02 on May 22, gaining traction from strong first-quarter 2018 earnings and a recent buyout. About 0.6 million shares exchanged hands in the last trading session and the stock finally closed at $27.78. The company’s return on equity has been an impressive at 11.2% when compared with the industry average of 10.4%.
Solid Q1 Results
Brown & Brown's bottom line of 33 cents outpaced the Zacks Consensus Estimate by 13.8% and improved year over year on solid organic revenue growth, higher commissions and fees as well as low tax incidence.
Shares of the company have gained 3.8% since it posted strong first-quarter results, outperforming the .
Navigators Group underwrites marine, property and casualty plus professional liability insurance products and services in the United States and worldwide. The company came up with positive earnings surprises in three of the trailing four quarters, with an average beat of 14.66%. The stock caries Zacks Rank #2 (Buy).
Progressive Corporation provides personal and commercial auto insurance, residential property insurance and other specialty property-casualty insurance and related services, primarily in the United States. The company pulled off positive surprises in three of the last four quarters, with an average beat of 6.23%. The stock caries Zacks Rank #2 (Buy).
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