Nomura Asset Management Co. Ltd. Purchases 10,076 Shares of Brown & Brown, Inc. (NYSE:BRO)

Nomura Asset Management Co. Ltd. lifted its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 441,693 shares of the financial services provider's stock after acquiring an additional 10,076 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.15% of Brown & Brown worth $45,062,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Journey Strategic Wealth LLC lifted its stake in shares of Brown & Brown by 2.3% in the fourth 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 last quarter. Bleakley Financial Group LLC raised its position in shares of Brown & Brown by 3.4% in 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. boosted its stake in shares of Brown & Brown by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider's stock valued at $476,000 after buying an additional 113 shares during the last quarter. Finally, Ascent Group LLC grew its position 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 worth $282,000 after buying an additional 117 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BRO shares. Royal Bank of Canada boosted their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price target on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an "underperform" rating for the company in a report on Friday, January 10th. Morgan Stanley reiterated an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. Finally, Bank of America raised their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. 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 company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $112.67.

Brown & Brown Price Performance

BRO stock traded down $0.24 during midday trading on Wednesday, reaching $123.87. 679,785 shares of the company's stock traded hands, compared to its average volume of 1,690,633. The company has a 50-day simple moving average of $113.71 and a two-hundred day simple moving average of $108.52. 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, Inc. has a 1-year low of $80.33 and a 1-year high of $125.68. The company has a market cap of $35.42 billion, a price-to-earnings ratio of 35.80, a PEG ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping 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, 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 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

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.