Brown & Brown, Inc. (NYSE:BRO) Stock Position Lowered by Swiss National Bank

Swiss National Bank trimmed its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 685,000 shares of the financial services provider’s stock after selling 34,000 shares during the period. Swiss National Bank owned 0.24% of Brown & Brown worth $69,884,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BRO. Brooklyn Investment Group purchased a new position in shares of Brown & Brown during the third quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Brown & Brown during the 4th quarter valued at about $28,000. Y.D. More Investments Ltd increased its holdings in shares of Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd purchased a new stake in shares of Brown & Brown in the fourth quarter worth approximately $31,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Brown & Brown during the fourth quarter worth approximately $37,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Trading Up 0.3 %

Shares of BRO stock opened at $118.21 on Friday. The business’s 50 day moving average is $109.79 and its two-hundred day moving average is $107.18. 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 12 month low of $80.33 and a 12 month high of $121.25. The company has a market cap of $33.80 billion, a PE ratio of 34.16, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Equities analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors 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 annualized dividend and a dividend yield of 0.51%. Brown & Brown’s dividend payout ratio is presently 17.34%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BRO. Keefe, Bruyette & Woods cut their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company increased their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley started coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. Royal Bank of Canada raised their price target on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Barclays boosted their price target on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. 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.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.