O Shaughnessy Asset Management LLC Buys 8,557 Shares of Brown & Brown, Inc. (NYSE:BRO)

O Shaughnessy Asset Management LLC increased its position in Brown & Brown, Inc. (NYSE:BRO) by 27.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,297 shares of the financial services provider’s stock after buying an additional 8,557 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Brown & Brown were worth $4,111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. grew its stake in Brown & Brown by 324.3% in the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock valued at $1,967,000 after acquiring an additional 14,740 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Brown & Brown by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock worth $18,104,000 after purchasing an additional 6,805 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Brown & Brown by 3.1% in the 4th 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 period. Victory Capital Management Inc. increased its stake in Brown & Brown by 19.9% during the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock valued at $31,055,000 after purchasing an additional 50,510 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Brown & Brown by 47.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 168,838 shares of the financial services provider’s stock worth $17,225,000 after buying an additional 54,246 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Price Performance

BRO opened at $124.36 on Thursday. The firm has a market cap of $35.56 billion, a P/E ratio of 35.94, a PEG ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $125.68. The firm has a 50-day moving average of $114.46 and a 200 day moving average of $108.78.

Brown & Brown (NYSE:BRO) last released 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 net margin of 20.68% and a return on equity of 17.81%. On average, research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.48%. Brown & Brown’s dividend payout ratio is presently 17.34%.

Wall Street Analyst Weigh In

BRO has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased 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. Bank of America lifted their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Royal Bank of Canada increased their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. 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 report on Wednesday, January 29th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $112.67.

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.