Hsbc Holdings PLC Boosts Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Hsbc Holdings PLC raised its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 552,320 shares of the financial services provider's stock after buying an additional 30,944 shares during the quarter. Hsbc Holdings PLC owned 0.19% of Brown & Brown worth $56,327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Brown & Brown during the fourth quarter worth approximately $28,000. Y.D. More Investments Ltd increased its stake in 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 in the last quarter. R Squared Ltd acquired a new position in Brown & Brown during the fourth quarter worth $31,000. SBI Securities Co. Ltd. bought a new position in shares of Brown & Brown in the fourth quarter valued at $37,000. Finally, Versant Capital Management Inc lifted its stake in shares of Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock valued at $42,000 after buying an additional 234 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Price Performance

Shares of BRO traded up $1.38 during midday trading on Wednesday, hitting $109.37. 580,013 shares of the company traded hands, compared to its average volume of 1,447,346. The stock has a 50-day moving average of $118.00 and a 200-day moving average of $110.60. 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, Inc. has a one year low of $81.07 and a one year high of $125.68. The firm has a market cap of $31.27 billion, a P/E ratio of 31.61, a PEG ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the company posted $1.14 EPS. The business's revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Monday, May 12th. Brown & Brown's payout ratio is 17.34%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BRO. Jefferies Financial Group increased their price objective on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Bank of America increased their price target on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Barclays lifted their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Royal Bank of Canada raised their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Finally, Edward Jones initiated coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating for the company. 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 company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $117.50.

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.