Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 15.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 52,511 shares of the financial services provider's stock after purchasing an additional 7,133 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Brown & Brown were worth $5,357,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in BRO. Dundas Partners LLP grew its position in Brown & Brown by 5.0% during the 4th quarter. Dundas Partners LLP now owns 503,111 shares of the financial services provider's stock valued at $51,327,000 after purchasing an additional 23,906 shares during the last quarter. Amundi grew its holdings in shares of Brown & Brown by 108.9% during the fourth quarter. Amundi now owns 678,532 shares of the financial services provider's stock valued at $69,570,000 after buying an additional 353,797 shares during the last quarter. Berkshire Asset Management LLC PA bought a new stake in shares of Brown & Brown during the fourth quarter valued at approximately $222,000. Andra AP fonden raised its holdings in Brown & Brown by 60.6% in the 4th quarter. Andra AP fonden now owns 54,600 shares of the financial services provider's stock worth $5,570,000 after acquiring an additional 20,600 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its position in Brown & Brown by 46.3% in the 4th quarter. Edgestream Partners L.P. now owns 31,667 shares of the financial services provider's stock valued at $3,231,000 after acquiring an additional 10,017 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.
Brown & Brown Stock Performance
Shares of BRO stock traded down $0.99 during mid-day trading on Tuesday, reaching $119.09. 1,646,193 shares of the company's stock traded hands, compared to its average volume of 1,285,986. 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 firm has a market capitalization of $34.05 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $121.25. The firm has a 50 day moving average price of $109.79 and a two-hundred day moving average price of $107.20.
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 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%. On average, research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.
Brown & Brown Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's dividend payout ratio is currently 17.34%.
Analysts Set New Price Targets
BRO has been the subject of a number of research analyst reports. Morgan Stanley assumed coverage on Brown & Brown in a report on Thursday, December 5th. They issued an "overweight" rating and a $134.00 target price for the company. Barclays lifted their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a report on Thursday, November 21st. Royal Bank of Canada boosted their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $113.17.
Get Our Latest Report on BRO
About Brown & Brown
(
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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