Mitsubishi UFJ Asset Management Co. Ltd. Purchases 31,110 Shares of Brown & Brown, Inc. (NYSE:BRO)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 7.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 433,844 shares of the financial services provider's stock after purchasing an additional 31,110 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.15% of Brown & Brown worth $44,074,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Brown & Brown by 42.4% during the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider's stock worth $114,979,000 after purchasing an additional 330,661 shares during the last quarter. Brooklyn Investment Group bought a new stake in Brown & Brown during the 3rd quarter worth about $26,000. CreativeOne Wealth LLC increased its position in Brown & Brown by 8.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 2,748 shares of the financial services provider's stock valued at $285,000 after acquiring an additional 205 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Brown & Brown by 8.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,378 shares of the financial services provider's stock valued at $4,701,000 after purchasing an additional 3,581 shares in the last quarter. Finally, Fiduciary Trust Co boosted its position in Brown & Brown by 14.0% in the 3rd quarter. Fiduciary Trust Co now owns 14,136 shares of the financial services provider's stock valued at $1,464,000 after buying an additional 1,732 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

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 1,692,946. The company's 50 day simple moving average is $114.46 and its 200-day simple moving average is $108.78. 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 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. 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 released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping 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 analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BRO. Wells Fargo & Company boosted their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Royal Bank of Canada upped 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. Morgan Stanley reiterated an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. Bank of America increased their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock 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.