TAP Consulting LLC Acquires 4,380 Shares of Brown & Brown, Inc. (NYSE:BRO)

TAP Consulting LLC lifted its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 18.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,681 shares of the financial services provider's stock after purchasing an additional 4,380 shares during the quarter. TAP Consulting LLC's holdings in Brown & Brown were worth $2,926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of BRO. Brooklyn Investment Group bought a new stake in shares of Brown & Brown in the 3rd quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Brown & Brown during the fourth quarter worth approximately $28,000. Y.D. More Investments Ltd grew its holdings in shares of Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock valued at $30,000 after buying an additional 162 shares during the last quarter. R Squared Ltd acquired a new position in Brown & Brown during the 4th quarter valued at about $31,000. Finally, SBI Securities Co. Ltd. bought a new position in Brown & Brown during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Brown & Brown Trading Up 2.1 %

Shares of Brown & Brown stock traded up $2.50 during midday trading on Monday, reaching $121.02. 1,325,280 shares of the company's stock traded hands, compared to its average volume of 1,298,204. The stock has a 50 day moving average of $111.55 and a 200-day moving average of $107.70. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $121.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $34.60 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

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Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data 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 return on equity of 17.81% and a net margin of 20.68%. As a group, equities analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.50%. Brown & Brown's payout ratio is 17.34%.

Analyst Upgrades and Downgrades

BRO has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $99.00 to $97.00 and set an "underperform" rating on the stock in a report on Friday, January 10th. Royal Bank of Canada increased their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Bank of America lifted their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley began coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an "overweight" rating and a $134.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Brown & Brown currently has a consensus rating of "Hold" and a consensus price target of $113.17.

About Brown & Brown

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.