New Age Alpha Advisors LLC raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 81,733.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,297 shares of the financial services provider's stock after purchasing an additional 129,139 shares during the quarter. New Age Alpha Advisors LLC's holdings in Brown & Brown were worth $13,191,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in Brown & Brown during the 3rd quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown during the fourth quarter valued at $28,000. Y.D. More Investments Ltd boosted its holdings in 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 valued at $30,000 after purchasing an additional 162 shares during the last quarter. R Squared Ltd acquired a new stake in Brown & Brown during the 4th quarter worth about $31,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Brown & Brown during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 71.01% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently commented on BRO shares. Royal Bank of Canada raised 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. Bank of America boosted their price objective on 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 on the stock in a research report on Friday, January 10th. Wells Fargo & Company boosted their price target 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. Finally, Morgan Stanley restated an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. 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. According to MarketBeat.com, Brown & Brown presently has a consensus rating of "Hold" and a consensus target price of $112.67.
Read Our Latest Research Report on Brown & Brown
Brown & Brown Trading Up 0.6 %
BRO stock traded up $0.71 during midday trading on Tuesday, hitting $125.11. The stock had a trading volume of 396,717 shares, compared to its average volume of 1,384,096. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $125.64. The company's 50-day moving average price is $113.71 and its 200 day moving average price is $108.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market cap of $35.77 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.
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 (EPS) 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%. On average, equities research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.
Brown & Brown Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.48%. Brown & Brown's payout ratio is currently 17.34%.
Brown & Brown 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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