Daiwa Securities Group Inc. lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,719 shares of the financial services provider's stock after buying an additional 2,325 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Brown & Brown were worth $3,236,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in BRO. Brooklyn Investment Group bought a new stake in shares of Brown & Brown during the 3rd quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Brown & Brown during the 4th quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown during the third quarter valued at about $29,000. Y.D. More Investments Ltd lifted its holdings in shares of 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 buying an additional 162 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Brown & Brown in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 71.01% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Barclays boosted their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a report on Thursday, November 21st. Morgan Stanley began coverage on Brown & Brown in a research report on Thursday, December 5th. They set an "overweight" rating and a $134.00 price target on the stock. Bank of America boosted 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 decreased their target price on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada raised their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown has a consensus rating of "Hold" and a consensus target price of $113.17.
View Our Latest Stock Report on BRO
Brown & Brown Trading Up 0.5 %
Brown & Brown stock opened at $117.88 on Friday. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $121.25. The business's fifty day moving average is $109.11 and its 200 day moving average is $106.96. The stock has a market capitalization of $33.71 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85. 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 posted 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, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.
Brown & Brown Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Wednesday, February 5th. Brown & Brown's dividend payout ratio (DPR) is presently 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.
Further Reading
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