Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Geneva Partners LLC

Geneva Partners LLC grew its stake in Brown & Brown, Inc. (NYSE:BRO) by 22.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,035 shares of the financial services provider’s stock after buying an additional 1,120 shares during the quarter. Geneva Partners LLC’s holdings in Brown & Brown were worth $616,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BRO. Allspring Global Investments Holdings LLC boosted its holdings in Brown & Brown by 0.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,915,425 shares of the financial services provider’s stock worth $405,638,000 after buying an additional 28,180 shares in the last quarter. Barclays PLC increased its position 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 buying an additional 371,980 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Brown & Brown by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock worth $136,302,000 after buying an additional 17,934 shares during the period. FMR LLC lifted its position in shares of Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after buying an additional 330,661 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in Brown & Brown by 6.2% during the third quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider’s stock worth $80,749,000 after acquiring an additional 45,766 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Brown & Brown stock opened at $106.79 on Thursday. The company’s 50 day simple moving average is $104.85 and its 200-day simple moving average is $104.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.73 and a current ratio of 1.79. Brown & Brown, Inc. has a 1 year low of $77.47 and a 1 year high of $114.15. The company has a market capitalization of $30.54 billion, a price-to-earnings ratio of 30.87, a price-to-earnings-growth ratio of 2.75 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) 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%. As a group, equities research analysts expect that Brown & Brown, Inc. will post 4.15 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.56%. Brown & Brown’s dividend payout ratio (DPR) is currently 17.34%.

Wall Street Analysts Forecast Growth

BRO has been the topic of a number of research reports. Bank of America raised their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Wells Fargo & Company upped their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Royal Bank of Canada boosted 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. Finally, Jefferies Financial Group lifted their price target on Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Brown & Brown has an average rating of “Hold” and a consensus 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.