Brown & Brown, Inc. (NYSE:BRO) Stock Holdings Raised by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lifted its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 28,093 shares of the financial services provider’s stock after buying an additional 260 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Brown & Brown were worth $2,866,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Journey Strategic Wealth LLC raised its stake in Brown & Brown by 2.3% during the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $458,000 after buying an additional 99 shares in the last quarter. CWA Asset Management Group LLC raised its position in shares of Brown & Brown by 3.7% during the 4th quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 103 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Brown & Brown by 3.4% during the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 103 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Brown & Brown by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider’s stock worth $476,000 after purchasing an additional 113 shares during the last quarter. Finally, Ascent Group LLC increased its stake in Brown & Brown by 4.5% during the third quarter. Ascent Group LLC now owns 2,722 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 117 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

BRO stock opened at $121.44 on Wednesday. The company has a 50-day simple moving average of $111.92 and a 200 day simple moving average of $107.82. The company has a market capitalization of $34.72 billion, a P/E ratio of 35.10, a PEG 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. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $121.85.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Sell-side analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s payout ratio is currently 17.34%.

Analysts Set New Price Targets

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

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.