Nutshell Asset Management Ltd Purchases New Stake in Brown & Brown, Inc. (NYSE:BRO)

Nutshell Asset Management Ltd purchased a new stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 10,500 shares of the financial services provider's stock, valued at approximately $1,071,000. Brown & Brown accounts for 0.7% of Nutshell Asset Management Ltd's holdings, making the stock its 27th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Brown & Brown during the fourth quarter valued at $28,000. Y.D. More Investments Ltd boosted its stake in Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd bought a new position in Brown & Brown in the 4th quarter worth about $31,000. SBI Securities Co. Ltd. acquired a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $37,000. Finally, Versant Capital Management Inc increased its stake in shares of Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 234 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Price Performance

Shares of NYSE:BRO traded down $2.36 on Monday, reaching $112.65. 3,560,531 shares of the company traded hands, compared to its average volume of 1,413,906. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $32.21 billion, a PE ratio of 32.56, a P/E/G ratio of 2.93 and a beta of 0.75. The company's 50 day moving average is $115.12 and its 200-day moving average is $109.13. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $125.68.

Remove Ads

Brown & Brown (NYSE:BRO - Get Free Report) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. As a group, analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's dividend payout ratio (DPR) is currently 17.34%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America raised their target price on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a report on Friday, January 10th. Wells Fargo & Company raised their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Royal Bank of Canada boosted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $112.67.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.