AssuredPartners Investment Advisors LLC Makes New Investment in Brown & Brown, Inc. (NYSE:BRO)

AssuredPartners Investment Advisors LLC acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 6,452 shares of the financial services provider’s stock, valued at approximately $658,000.

A number of other hedge funds also recently made changes to their positions in BRO. Brooklyn Investment Group bought a new position in Brown & Brown in the third quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Brown & Brown in the 4th quarter worth about $28,000. Y.D. More Investments Ltd increased its position in shares of Brown & Brown by 122.7% during 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 during the last quarter. R Squared Ltd purchased a new position in shares of Brown & Brown during the 4th quarter valued at about $31,000. Finally, SBI Securities Co. Ltd. bought a new stake in Brown & Brown in the 4th quarter worth approximately $37,000. 71.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BRO shares. Bank of America lifted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their target price on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and set a $128.00 price target on shares of Brown & Brown in a research report on Tuesday. Keefe, Bruyette & Woods decreased their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company increased their target price on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. One equities 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.com, the company presently has an average rating of “Hold” and a consensus target price of $112.67.

Brown & Brown Trading Up 1.1 %

BRO opened at $123.08 on Friday. The firm has a market capitalization of $35.19 billion, a price-to-earnings ratio of 35.57, a PEG ratio of 2.93 and a beta of 0.86. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $123.24. The business has a 50 day simple moving average of $112.98 and a two-hundred day simple moving average of $108.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping 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 predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders 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 dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s payout ratio is 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.