Pictet Asset Management Holding SA lifted its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 42.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 323,882 shares of the financial services provider's stock after purchasing an additional 97,054 shares during the quarter. Pictet Asset Management Holding SA owned about 0.11% of Brown & Brown worth $33,042,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Brown & Brown by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after buying an additional 1,335,964 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Brown & Brown by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock valued at $1,316,259,000 after purchasing an additional 94,121 shares during the last quarter. Norges Bank acquired a new stake in shares of Brown & Brown during the 4th quarter worth about $313,412,000. Barclays PLC raised its holdings in Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider's stock valued at $255,537,000 after buying an additional 371,980 shares during the period. Finally, Madison Investment Advisors LLC purchased a new position in Brown & Brown during the fourth quarter worth about $198,031,000. Hedge funds and other institutional investors own 71.01% of the company's stock.
Brown & Brown Stock Performance
NYSE BRO traded up $1.16 during trading hours on Thursday, reaching $125.39. The company's stock had a trading volume of 997,655 shares, compared to its average volume of 1,394,912. The stock has a market cap of $35.85 billion, a PE ratio of 36.19, a PEG ratio of 2.93 and a beta of 0.86. The business has a 50-day simple moving average of $114.46 and a 200 day simple moving average of $108.78. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $125.68.
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, beating 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 research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.
Brown & Brown Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.48%. Brown & Brown's payout ratio is 17.34%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on BRO. 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 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 report on Friday, January 10th. Bank of America increased their target price 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 reiterated an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Finally, Wells Fargo & Company boosted their target price 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $112.67.
Check Out Our Latest Analysis on Brown & Brown
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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