California Public Employees Retirement System decreased its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,102,970 shares of the financial services provider's stock after selling 6,908 shares during the period. California Public Employees Retirement System owned 0.39% of Brown & Brown worth $112,525,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dorsey Wright & Associates boosted its holdings in shares of Brown & Brown by 3.8% during the fourth quarter. Dorsey Wright & Associates now owns 34,135 shares of the financial services provider's stock valued at $3,482,000 after acquiring an additional 1,259 shares during the period. RWA Wealth Partners LLC acquired a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $609,000. Schroder Investment Management Group raised its holdings in shares of Brown & Brown by 2.8% during the fourth quarter. Schroder Investment Management Group now owns 18,596 shares of the financial services provider's stock valued at $1,897,000 after buying an additional 515 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Brown & Brown by 395.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider's stock worth $3,489,000 after buying an additional 27,297 shares during the period. Finally, Intrust Bank NA grew its holdings in Brown & Brown by 27.8% in the 4th quarter. Intrust Bank NA now owns 3,039 shares of the financial services provider's stock worth $310,000 after buying an additional 661 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.
Brown & Brown Trading Up 0.2 %
Shares of Brown & Brown stock traded up $0.23 during trading on Thursday, hitting $124.46. The stock had a trading volume of 1,994,599 shares, compared to its average volume of 1,398,612. 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 has a market capitalization of $35.59 billion, a PE ratio of 35.97, a P/E/G ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $125.68. The stock has a 50 day simple moving average of $114.46 and a 200 day simple moving average of $108.78.
Brown & Brown (NYSE:BRO - Get Free Report) last announced 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 net margin of 20.68% and a return on equity of 17.81%. On average, research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.
Brown & Brown Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.48%. Brown & Brown's dividend payout ratio is presently 17.34%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Wells Fargo & Company boosted 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. Morgan Stanley reissued an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. Bank of America upped their price target on shares of 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 boosted their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods decreased their price target on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a research note on Friday, January 10th. One 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. Based on data from MarketBeat.com, Brown & Brown currently has a consensus rating of "Hold" and an average price target of $112.67.
Get Our Latest Stock Report 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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