Moment Partners LLC acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,481 shares of the financial services provider's stock, valued at approximately $457,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. grew its stake in shares of Brown & Brown by 324.3% in the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock worth $1,967,000 after purchasing an additional 14,740 shares in the last quarter. Sanctuary Advisors LLC grew its position in Brown & Brown by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider's stock valued at $18,104,000 after buying an additional 6,805 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Brown & Brown by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider's stock worth $138,394,000 after purchasing an additional 40,881 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Brown & Brown by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider's stock worth $31,055,000 after buying an additional 50,510 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Brown & Brown by 47.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 168,838 shares of the financial services provider's stock worth $17,225,000 after purchasing an additional 54,246 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.
Brown & Brown Price Performance
Shares of BRO stock traded up $0.70 during trading hours on Monday, hitting $123.63. The company had a trading volume of 330,504 shares, compared to its average volume of 1,671,674. The firm has a market capitalization of $35.35 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.93 and a beta of 0.86. The firm's fifty day moving average is $113.33 and its 200 day moving average is $108.31. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $124.56. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.
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, beating analysts' consensus estimates 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 fiscal year.
Brown & Brown Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, February 5th. Brown & Brown's dividend payout ratio (DPR) is presently 17.34%.
Analyst Ratings Changes
BRO has been the subject of several analyst reports. Morgan Stanley reaffirmed an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Bank of America increased their target price on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods decreased their price objective on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a research report on Friday, January 10th. Royal Bank of Canada lifted their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. One equities 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, Brown & Brown has a consensus rating of "Hold" and an average price target of $112.67.
View Our Latest Analysis on BRO
Brown & Brown Company 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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