Adage Capital Partners GP L.L.C. purchased a new stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 101,800 shares of the financial services provider's stock, valued at approximately $10,386,000.
Other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Brown & Brown during the fourth quarter worth about $28,000. Y.D. More Investments Ltd lifted its stake in shares of Brown & Brown by 122.7% in 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 period. R Squared Ltd purchased a new stake in shares of Brown & Brown during the 4th quarter worth about $31,000. SBI Securities Co. Ltd. acquired a new stake in Brown & Brown in the fourth quarter valued at approximately $37,000. Finally, Versant Capital Management Inc lifted its holdings in Brown & Brown by 130.7% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 234 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently commented on the company. Barclays increased their price objective on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Bank of America boosted their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. 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, March 25th. Edward Jones started coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating on the stock. Finally, Royal Bank of Canada increased 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 seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $116.83.
Get Our Latest Stock Report on Brown & Brown
Brown & Brown Stock Performance
BRO traded down $1.55 during trading on Thursday, hitting $109.05. 2,104,714 shares of the stock were exchanged, compared to its average volume of 1,459,201. The stock has a fifty day moving average price of $117.91 and a two-hundred day moving average price of $110.62. The firm has a market capitalization of $31.18 billion, a P/E ratio of 31.52, a PEG ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a 1-year low of $81.57 and a 1-year high of $125.68. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.
Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The firm's revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.14 earnings per share. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.
Brown & Brown Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.55%. Brown & Brown's dividend payout ratio is currently 17.34%.
Brown & Brown Profile
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Free Report)
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.
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