Andra AP fonden Grows Stake in Brown & Brown, Inc. (NYSE:BRO)

Andra AP fonden lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 60.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,600 shares of the financial services provider’s stock after purchasing an additional 20,600 shares during the quarter. Andra AP fonden’s holdings in Brown & Brown were worth $5,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Proficio Capital Partners LLC increased its stake in Brown & Brown by 11,337.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider’s stock valued at $1,109,000 after purchasing an additional 1,099,199 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Brown & Brown in the fourth quarter worth approximately $71,915,000. Zurich Insurance Group Ltd FI grew its holdings in shares of Brown & Brown by 258.0% during the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after buying an additional 465,988 shares during the last quarter. Barclays PLC increased its position in shares of Brown & Brown by 17.8% during the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after acquiring an additional 371,980 shares in the last quarter. Finally, FMR LLC raised its holdings in Brown & Brown by 42.4% in the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after acquiring an additional 330,661 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on BRO shares. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Morgan Stanley began coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective on the stock. Barclays boosted their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada raised their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price objective 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Down 0.0 %

Shares of BRO stock opened at $118.70 on Friday. The company has a 50 day simple moving average of $108.13 and a two-hundred day simple moving average of $106.61. The stock has a market cap of $33.94 billion, a P/E ratio of 34.31, a P/E/G 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 $120.61. 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 (NYSE:BRO) last posted its quarterly earnings data 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 return on equity of 17.81% and a net margin of 20.68%. On average, research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current 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 paid a $0.15 dividend. 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 dividend payout ratio (DPR) is currently 17.34%.

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.