NEOS Investment Management LLC Buys 2,483 Shares of Brown & Brown, Inc. (NYSE:BRO)

NEOS Investment Management LLC increased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 28.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,183 shares of the financial services provider's stock after purchasing an additional 2,483 shares during the period. NEOS Investment Management LLC's holdings in Brown & Brown were worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. boosted its stake in shares of Brown & Brown by 324.3% in the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock worth $1,967,000 after acquiring an additional 14,740 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in Brown & Brown by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider's stock valued at $18,104,000 after buying an additional 6,805 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Brown & Brown by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider's stock valued at $138,394,000 after buying an additional 40,881 shares in the last quarter. Victory Capital Management Inc. boosted its position in Brown & Brown by 19.9% during the fourth quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider's stock worth $31,055,000 after purchasing an additional 50,510 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Brown & Brown by 47.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 168,838 shares of the financial services provider's stock worth $17,225,000 after purchasing an additional 54,246 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BRO. Royal Bank of Canada increased their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their price objective on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a report on Friday, January 10th. Bank of America increased their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Morgan Stanley reissued an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Finally, Wells Fargo & Company increased their price target on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $112.67.

Brown & Brown Trading Up 0.2 %

Brown & Brown stock traded up $0.25 during mid-day trading on Thursday, hitting $124.48. 495,523 shares of the company's stock were exchanged, compared to its average volume of 1,392,902. The firm has a market capitalization of $35.59 billion, a P/E ratio of 35.98, a PEG ratio of 2.93 and a beta of 0.86. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company's 50 day simple moving average is $114.46 and its 200-day simple moving average is $108.78. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $125.68.

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, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. On average, equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current 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 $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Wednesday, February 5th. Brown & Brown's payout ratio is 17.34%.

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.