Asset Management One Co. Ltd. Increases Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Asset Management One Co. Ltd. boosted its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,448 shares of the financial services provider's stock after purchasing an additional 8,070 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Brown & Brown were worth $12,620,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BRO. Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown in the 4th quarter valued at $28,000. Johnson Financial Group Inc. raised its position in Brown & Brown by 534.1% in the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 235 shares during the last quarter. Sunbelt Securities Inc. raised its position in Brown & Brown by 581.8% in the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Brown & Brown in the 4th quarter valued at $37,000. Finally, Garde Capital Inc. purchased a new stake in Brown & Brown in the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

Shares of BRO traded up $0.47 during trading hours on Friday, reaching $109.74. The company had a trading volume of 12,687,961 shares, compared to its average volume of 1,772,952. The firm has a 50 day simple moving average of $110.83 and a 200-day simple moving average of $110.95. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $31.46 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 2.38 and a beta of 0.84. Brown & Brown, Inc. has a 12-month low of $88.31 and a 12-month high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The company had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. Research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were issued a $0.15 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. Brown & Brown's dividend payout ratio is presently 16.71%.

Analyst Ratings Changes

Several research firms recently commented on BRO. The Goldman Sachs Group downgraded shares of Brown & Brown from a "buy" rating to a "neutral" rating and reduced their price target for the company from $126.00 to $119.00 in a research report on Tuesday, May 13th. Barclays upped their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Jefferies Financial Group upped their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Morgan Stanley restated an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday, March 25th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $127.00 price objective (up previously from $125.00) on shares of Brown & Brown in a research report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Brown & Brown presently has a consensus rating of "Hold" and an average target price of $118.85.

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.