AssuredPartners Investment Advisors LLC purchased a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,452 shares of the financial services provider's stock, valued at approximately $658,000.
Several other hedge funds have also made changes to their positions in BRO. Brooklyn Investment Group acquired a new position in shares of Brown & Brown in the 3rd quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Brown & Brown in the fourth quarter valued at about $28,000. Y.D. More Investments Ltd increased its position in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after purchasing an additional 162 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Brown & Brown during the 4th quarter worth about $31,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Brown & Brown during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 71.01% of the company's stock.
Brown & Brown Stock Performance
Shares of BRO traded up $0.76 during mid-day trading on Tuesday, hitting $125.16. The company's stock had a trading volume of 300,930 shares, compared to its average volume of 1,383,532. The stock's 50-day moving average is $113.71 and its two-hundred day moving average is $108.52. The firm has a market capitalization of $35.79 billion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $125.16.
Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.
Brown & Brown Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.48%. Brown & Brown's payout ratio is presently 17.34%.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Bank of America raised their price objective on shares of 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 research note on Friday, January 10th. Wells Fargo & Company increased their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Morgan Stanley reiterated an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a research note on Tuesday, March 25th. Finally, Royal Bank of Canada raised their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Brown & Brown has a consensus rating of "Hold" and a consensus target price of $112.67.
View Our Latest Stock Analysis on BRO
About Brown & Brown
(
Free Report)
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.
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