29,305 Shares in Brown & Brown, Inc. (NYSE:BRO) Purchased by Capital Fund Management S.A.

Capital Fund Management S.A. purchased a new stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,305 shares of the financial services provider's stock, valued at approximately $2,990,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Brown & Brown by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after buying an additional 1,335,964 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Brown & Brown by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider's stock valued at $1,316,259,000 after acquiring an additional 94,121 shares during the last quarter. Geode Capital Management LLC grew its holdings in Brown & Brown by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider's stock worth $620,737,000 after acquiring an additional 118,569 shares in the last quarter. Invesco Ltd. increased its holdings in Brown & Brown by 11.4% in the fourth quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider's stock valued at $388,045,000 after buying an additional 388,411 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $313,412,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price objective on Brown & Brown from $97.00 to $102.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 9th. UBS Group lifted their target price on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, April 9th. 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 report on Friday, April 11th. Finally, Barclays raised their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $117.50.

Brown & Brown Stock Performance

NYSE BRO traded down $1.63 during trading on Friday, hitting $117.17. The company's stock had a trading volume of 1,795,477 shares, compared to its average volume of 1,434,890. Brown & Brown, Inc. has a 52 week low of $80.87 and a 52 week high of $125.68. The firm has a market cap of $33.50 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. The firm has a 50 day moving average price of $117.44 and a 200 day moving average price of $110.14. 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.10. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.51%. Brown & Brown's dividend payout ratio is 17.34%.

About Brown & Brown

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.