Glenview Trust co Grows Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Glenview Trust co grew its position in Brown & Brown, Inc. (NYSE:BRO) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,749 shares of the financial services provider’s stock after buying an additional 701 shares during the quarter. Glenview Trust co’s holdings in Brown & Brown were worth $995,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in shares of Brown & Brown by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock valued at $1,316,259,000 after purchasing an additional 94,121 shares during the last quarter. Barclays PLC increased its holdings in shares of Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after purchasing an additional 371,980 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $198,031,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Brown & Brown by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after purchasing an additional 40,881 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Brown & Brown by 42.4% in the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after purchasing an additional 330,661 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley initiated coverage on Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. Keefe, Bruyette & Woods cut their target price 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. Finally, Bank of America raised their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brown & Brown presently has an average rating of “Hold” and an average price target of $113.17.

Brown & Brown Trading Up 1.6 %

Shares of NYSE BRO opened at $120.08 on Tuesday. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $121.25. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $109.79 and a 200-day simple moving average of $107.20. The stock has a market capitalization of $34.33 billion, a PE ratio of 34.70, a PEG ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data 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%. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.50%. Brown & Brown’s payout ratio is presently 17.34%.

Brown & Brown 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.