BNP Paribas Financial Markets Has $48.60 Million Stake in Brown & Brown, Inc. $BRO

Key Points

• BNP Paribas Financial Markets increased its stake in Brown & Brown by 90.5% in the fourth quarter, ending with 609,825 shares worth about $48.6 million.
• Brown & Brown reported better-than-expected quarterly results, with EPS of $1.39 versus $1.36 expected and revenue of $1.90 billion, up 35.4% year over year.
• The stock has been under pressure and recently opened at $56.63, while analysts currently rate it Hold on average with a consensus price target of $79.44.

BNP Paribas Financial Markets boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 90.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 609,825 shares of the financial services provider's stock after buying an additional 289,638 shares during the period. BNP Paribas Financial Markets owned approximately 0.18% of Brown & Brown worth $48,603,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $516,837,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $1,332,000. National Pension Service boosted its stake in shares of Brown & Brown by 43.0% in the 4th quarter. National Pension Service now owns 503,604 shares of the financial services provider's stock valued at $40,137,000 after purchasing an additional 151,373 shares in the last quarter. Basepoint Wealth LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $27,000. Finally, Foundations Investment Advisors LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at approximately $462,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Down 0.6%

Brown & Brown stock opened at $56.63 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.64 and a current ratio of 1.64. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $113.83. The firm has a 50 day moving average price of $62.37 and a two-hundred day moving average price of $71.16. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 2.62 and a beta of 0.63.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business earned $1.29 EPS. The company's revenue was up 35.4% compared to the same quarter last year. Equities analysts predict that Brown & Brown, Inc. will post 4.51 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were issued a dividend of $0.165 per share. The ex-dividend date was Monday, May 11th. This represents a $0.66 annualized dividend and a yield of 1.2%. Brown & Brown's dividend payout ratio (DPR) is presently 21.22%.

Insider Transactions at Brown & Brown

In other news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was purchased at an average price of $57.10 per share, for a total transaction of $114,200.00. Following the acquisition, the director owned 47,621 shares in the company, valued at $2,719,159.10. This trade represents a 4.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.13% of the company's stock.

Analysts Set New Price Targets

BRO has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of Brown & Brown from $72.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 29th. Royal Bank Of Canada reduced their price target on shares of Brown & Brown from $76.00 to $72.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 29th. Barclays reduced their price target on shares of Brown & Brown from $80.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley reduced their price target on shares of Brown & Brown from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 21st. Finally, The Goldman Sachs Group dropped their price objective on shares of Brown & Brown from $82.00 to $73.00 and set a "neutral" rating for the company in a report on Wednesday, April 8th. Five research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Brown & Brown presently has a consensus rating of "Hold" and a consensus price target of $79.44.

Brown & Brown Profile

Brown & Brown, Inc NYSE: BRO is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.

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