Andra AP fonden Purchases 20,600 Shares of Brown & Brown, Inc. (NYSE:BRO)

Andra AP fonden raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 60.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 54,600 shares of the financial services provider’s stock after buying an additional 20,600 shares during the period. Andra AP fonden’s holdings in Brown & Brown were worth $5,570,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Studio Investment Management LLC boosted its stake in Brown & Brown by 1.5% in the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock worth $675,000 after purchasing an additional 96 shares during the period. Journey Strategic Wealth LLC boosted its position in shares of 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 worth $458,000 after acquiring an additional 99 shares during the last quarter. CWA Asset Management Group LLC grew its stake in Brown & Brown by 3.7% during the fourth 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 grew 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 valued at $323,000 after acquiring an additional 103 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in Brown & Brown by 0.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock valued at $2,375,000 after acquiring an additional 113 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

Brown & Brown stock opened at $118.70 on Friday. 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. The firm has a 50-day moving average price of $108.13 and a 200-day moving average price of $106.61. The firm has a market capitalization of $33.94 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. As a group, equities research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s payout ratio is currently 17.34%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley initiated coverage on shares of Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. Bank of America raised their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Royal Bank of Canada upped their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Barclays raised their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Brown & Brown currently has an average rating of “Hold” and an average target price of $113.17.

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.