GAM Holding AG bought a new position in Brown & Brown, Inc. (NYSE:BRO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 10,029 shares of the financial services provider's stock, valued at approximately $1,023,000.
Other large investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Brown & Brown in the 3rd quarter worth $26,000. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown in the 3rd quarter worth $29,000. Y.D. More Investments Ltd lifted its holdings in shares of Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after purchasing an additional 162 shares in the last quarter. R Squared Ltd bought a new position in shares of Brown & Brown in the 4th quarter worth $31,000. Finally, Versant Capital Management Inc lifted its stake in Brown & Brown by 130.7% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 234 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on BRO shares. Royal Bank of Canada raised their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Morgan Stanley started coverage on Brown & Brown in a research note on Thursday, December 5th. They set an "overweight" rating and a $134.00 price objective on the stock. StockNews.com cut Brown & Brown from a "buy" rating to a "hold" rating in a research note on Saturday, November 2nd. Barclays raised their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a research note on Thursday, November 21st. Finally, Bank of America raised their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $113.17.
View Our Latest Analysis on Brown & Brown
Brown & Brown Stock Performance
BRO traded down $0.63 during trading hours on Thursday, hitting $111.69. The stock had a trading volume of 1,483,119 shares, compared to its average volume of 1,581,995. The company's fifty day simple moving average is $105.13 and its 200 day simple moving average is $105.35. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $114.15. The stock has a market cap of $31.93 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 2.91 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.
Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.
Brown & Brown Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's dividend payout ratio (DPR) is currently 17.34%.
Brown & Brown Company Profile
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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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