Geode Capital Management LLC grew its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,099,649 shares of the financial services provider's stock after acquiring an additional 118,569 shares during the period. Geode Capital Management LLC owned about 2.13% of Brown & Brown worth $620,737,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown during the 4th quarter worth approximately $28,000. Y.D. More Investments Ltd raised its position 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 worth $30,000 after acquiring an additional 162 shares in the last quarter. R Squared Ltd acquired a new stake in Brown & Brown in the fourth quarter valued at $31,000. SBI Securities Co. Ltd. purchased a new stake in shares of Brown & Brown during the 4th quarter worth $37,000. Finally, Versant Capital Management Inc grew its stake 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 during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
BRO has been the topic of a number of research analyst reports. Morgan Stanley reissued an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. 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 report on Tuesday, January 28th. Royal Bank of Canada upped their target price on Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an "underperform" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Brown & Brown presently has a consensus rating of "Hold" and a consensus target price of $113.08.
Read Our Latest Research Report on Brown & Brown
Brown & Brown Trading Down 1.2 %
BRO stock traded down $1.37 during midday trading on Wednesday, hitting $111.04. The stock had a trading volume of 363,991 shares, compared to its average volume of 1,411,467. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $125.68. The firm has a market cap of $31.75 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The company's 50-day moving average price is $115.44 and its 200 day moving average price is $109.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.
Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 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%. On average, equities research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.
Brown & Brown Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown's payout ratio is currently 17.34%.
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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