Proficio Capital Partners LLC Increases Position in Brown & Brown, Inc. (NYSE:BRO)

Proficio Capital Partners LLC increased its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 11,337.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,108,894 shares of the financial services provider's stock after acquiring an additional 1,099,199 shares during the period. Proficio Capital Partners LLC owned approximately 0.39% of Brown & Brown worth $1,109,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BRO. Mogy Joel R Investment Counsel Inc. raised its holdings in Brown & Brown by 324.3% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock valued at $1,967,000 after buying an additional 14,740 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Brown & Brown by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider's stock valued at $18,104,000 after acquiring an additional 6,805 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Brown & Brown by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider's stock worth $136,302,000 after acquiring an additional 17,934 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Brown & Brown during the 3rd quarter worth about $9,832,000. Finally, EULAV Asset Management raised its position in Brown & Brown by 144.8% in the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider's stock worth $43,960,000 after purchasing an additional 254,900 shares during the period. 71.01% of the stock is owned by institutional investors.

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Brown & Brown Stock Performance

NYSE:BRO traded down $1.79 during mid-day trading on Tuesday, hitting $117.84. The company's stock had a trading volume of 2,337,382 shares, compared to its average volume of 1,273,384. The stock has a market cap of $33.70 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 2.93 and a beta of 0.86. The business's fifty day moving average is $108.48 and its two-hundred day moving average is $106.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $121.25.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 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%. Analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS 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 paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's payout ratio is currently 17.34%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their target price 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. Bank of America increased their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Royal Bank of Canada upped their target price 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. Morgan Stanley started coverage on Brown & Brown in a research report on Thursday, December 5th. They set an "overweight" rating and a $134.00 price target on the stock. Finally, Barclays lifted their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $113.17.

Brown & Brown Company 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.