O Shaughnessy Asset Management LLC Increases Stock Position in Brown & Brown, Inc. (NYSE:BRO)

O Shaughnessy Asset Management LLC increased its holdings in Brown & Brown, Inc. (NYSE:BRO) by 27.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC grew its position 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 in the last quarter. Walleye Capital LLC boosted its stake in Brown & Brown by 346.3% in the 3rd quarter. Walleye Capital LLC now owns 15,518 shares of the financial services provider’s stock worth $1,608,000 after purchasing an additional 12,041 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Brown & Brown by 1.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 18,825 shares of the financial services provider’s stock valued at $1,950,000 after buying an additional 290 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Brown & Brown by 4.6% during the third quarter. Captrust Financial Advisors now owns 49,835 shares of the financial services provider’s stock valued at $5,163,000 after buying an additional 2,211 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in shares of Brown & Brown by 23.8% in the third quarter. Verition Fund Management LLC now owns 5,944 shares of the financial services provider’s stock worth $616,000 after buying an additional 1,143 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $124.36 on Thursday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $35.56 billion, a PE ratio of 35.94, a PEG ratio of 2.93 and a beta of 0.86. The company’s fifty day moving average is $114.46 and its 200 day moving average is $108.78. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $125.68.

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

Brown & Brown Dividend Announcement

The business also recently disclosed 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 0.48%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Keefe, Bruyette & Woods dropped their price objective 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. Bank of America upped 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. Finally, Royal Bank of Canada lifted their price target 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus 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.