Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,099,649 shares of the financial services provider’s stock after purchasing an additional 118,569 shares during the period. Geode Capital Management LLC owned approximately 2.13% of Brown & Brown worth $620,737,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BRO. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Brown & Brown during the 4th quarter valued at approximately $28,000. Y.D. More Investments Ltd increased its stake in 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 in the last quarter. R Squared Ltd acquired a new position in Brown & Brown during the fourth quarter worth $31,000. SBI Securities Co. Ltd. purchased a new stake in Brown & Brown during the fourth quarter worth $37,000. Finally, Versant Capital Management Inc grew its holdings in Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BRO. Keefe, Bruyette & Woods cut their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Bank of America lifted their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Royal Bank of Canada increased their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $112.67.

Brown & Brown Stock Up 0.2 %

Shares of BRO opened at $124.46 on Friday. The firm has a market cap of $35.59 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company’s fifty day moving average is $114.85 and its two-hundred day moving average is $108.89. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $125.68.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating 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%. Analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently announced 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. This represents a $0.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

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.