Mitsubishi UFJ Trust & Banking Corp lifted its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 77.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 324,242 shares of the financial services provider's stock after purchasing an additional 141,700 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.11% of Brown & Brown worth $33,079,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Journey Strategic Wealth LLC grew its stake in Brown & Brown by 2.3% in the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock worth $458,000 after acquiring an additional 99 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in Brown & Brown by 3.7% during the 4th quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider's stock worth $297,000 after purchasing an additional 103 shares during the period. Bleakley Financial Group LLC raised its position in Brown & Brown by 3.4% during the 4th quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider's stock valued at $323,000 after purchasing an additional 103 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Brown & Brown by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider's stock worth $476,000 after buying an additional 113 shares during the period. Finally, Ascent Group LLC increased its stake in shares of Brown & Brown by 4.5% during the third quarter. Ascent Group LLC now owns 2,722 shares of the financial services provider's stock valued at $282,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.
Brown & Brown Stock Up 1.3 %
Shares of BRO stock traded up $1.60 during trading hours on Monday, reaching $124.53. 1,872,872 shares of the company's stock were exchanged, compared to its average volume of 1,387,670. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $124.97. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $35.61 billion, a PE ratio of 35.99, a PEG ratio of 2.93 and a beta of 0.86. The stock's fifty day moving average price is $113.71 and its two-hundred day moving average price is $108.52.
Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results 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 net margin of 20.68% and a return on equity of 17.81%. Research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.
Brown & Brown Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.48%. Brown & Brown's dividend payout ratio is currently 17.34%.
Wall Street Analyst Weigh In
BRO has been the subject of a number of research reports. Bank of America upped their price objective 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. Morgan Stanley reaffirmed an "equal weight" rating and issued a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. Royal Bank of Canada boosted their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods dropped their target price on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a research report on Friday, January 10th. Finally, 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $112.67.
View Our Latest Analysis on BRO
Brown & Brown Profile
(
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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