Ethic Inc. Buys 5,079 Shares of Brown & Brown, Inc. (NYSE:BRO)

Ethic Inc. boosted its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 26.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,427 shares of the financial services provider's stock after purchasing an additional 5,079 shares during the period. Ethic Inc.'s holdings in Brown & Brown were worth $2,492,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Brown & Brown during the 4th quarter valued at about $28,000. Johnson Financial Group Inc. raised its stake in Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after acquiring an additional 235 shares during the period. Y.D. More Investments Ltd lifted its holdings in Brown & Brown by 122.7% during the fourth 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 purchased a new position in Brown & Brown during the fourth quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Brown & Brown in the fourth quarter worth approximately $37,000. Institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

Brown & Brown stock opened at $111.42 on Monday. Brown & Brown, Inc. has a 52-week low of $85.97 and a 52-week 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. The firm's fifty day moving average is $117.15 and its 200 day moving average is $110.90. The company has a market cap of $31.93 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.93 and a beta of 0.87.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). The business 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 quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. Sell-side analysts forecast 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. Investors of record on Monday, May 12th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. Brown & Brown's dividend payout ratio is presently 16.71%.

Wall Street Analyst Weigh In

BRO has been the topic of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating on the stock in a research report on Monday, May 5th. Barclays increased their price target on Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Morgan Stanley restated an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Wells Fargo & Company upped their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $116.67.

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.

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