Advisory Services Network LLC Raises Holdings in Brown & Brown, Inc. (NYSE:BRO)

Advisory Services Network LLC grew its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 52.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,441 shares of the financial services provider's stock after buying an additional 18,740 shares during the quarter. Advisory Services Network LLC's holdings in Brown & Brown were worth $5,554,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BRO. Verition Fund Management LLC boosted its holdings in Brown & Brown by 23.8% in the 3rd 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 during the last quarter. Quadrature Capital Ltd acquired a new position in Brown & Brown in the third quarter valued at approximately $385,000. Wellington Management Group LLP grew its position in Brown & Brown by 5.1% in the third quarter. Wellington Management Group LLP now owns 147,097 shares of the financial services provider's stock worth $15,239,000 after acquiring an additional 7,172 shares during the period. EP Wealth Advisors LLC lifted its stake in shares of Brown & Brown by 6.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 12,478 shares of the financial services provider's stock valued at $1,293,000 after purchasing an additional 753 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Brown & Brown by 85.9% during the 3rd quarter. National Bank of Canada FI now owns 121,053 shares of the financial services provider's stock worth $12,541,000 after purchasing an additional 55,948 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

BRO traded up $2.02 on Monday, reaching $120.88. The company had a trading volume of 350,177 shares, compared to its average volume of 1,768,247. The stock has a market capitalization of $34.56 billion, a PE ratio of 34.94, a P/E/G ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $125.68. The stock has a 50-day moving average price of $116.39 and a 200-day moving average price of $109.63. 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 announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share 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, research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown's dividend payout ratio (DPR) is presently 17.34%.

Analyst Ratings Changes

BRO has been the topic of several recent analyst reports. UBS Group upped their price objective on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. Jefferies Financial Group lifted their price objective on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research note on Friday. Keefe, Bruyette & Woods raised their target price on Brown & Brown from $97.00 to $102.00 and gave the company an "underperform" rating in a report on Wednesday, April 9th. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. One investment 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. Based on data from MarketBeat, Brown & Brown presently has a consensus rating of "Hold" and a consensus target price of $115.83.

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.