Allstate Corp Takes $789,000 Position in Brown & Brown, Inc. (NYSE:BRO)

Allstate Corp purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,738 shares of the financial services provider's stock, valued at approximately $789,000.

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

Analysts Set New Price Targets

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

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Brown & Brown Stock Up 0.2 %

NYSE:BRO traded up $0.23 on Thursday, hitting $124.46. The stock had a trading volume of 1,994,596 shares, compared to its average volume of 1,398,612. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $125.68. The firm's fifty day simple moving average is $114.46 and its two-hundred day simple moving average is $108.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market cap of $35.59 billion, a P/E ratio of 35.97, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (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%. Analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's payout ratio is 17.34%.

Brown & Brown Company 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.