Wealthfront Advisers LLC Boosts Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Wealthfront Advisers LLC grew its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 26.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,189 shares of the financial services provider's stock after purchasing an additional 2,752 shares during the period. Wealthfront Advisers LLC's holdings in Brown & Brown were worth $1,641,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Phillips Wealth Planners LLC lifted its position in Brown & Brown by 3.4% during the 1st quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider's stock worth $316,000 after buying an additional 88 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Brown & Brown by 26.8% during the first quarter. SBI Securities Co. Ltd. now owns 454 shares of the financial services provider's stock worth $56,000 after purchasing an additional 96 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Brown & Brown by 2.3% during the first quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider's stock valued at $536,000 after purchasing an additional 97 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Brown & Brown by 11.7% in the first quarter. Blue Trust Inc. now owns 1,002 shares of the financial services provider's stock valued at $125,000 after purchasing an additional 105 shares in the last quarter. Finally, Lido Advisors LLC increased its holdings in shares of Brown & Brown by 2.6% in the fourth quarter. Lido Advisors LLC now owns 4,690 shares of the financial services provider's stock valued at $479,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Analysts Set New Price Targets

BRO has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their target price on Brown & Brown from $102.00 to $104.00 and gave the stock an "underperform" rating in a report on Wednesday, July 9th. Morgan Stanley reissued an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $127.00 target price (up previously from $125.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Barclays cut their target price on shares of Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Finally, Jefferies Financial Group boosted their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $118.23.

Brown & Brown Stock Performance

Shares of NYSE:BRO traded up $0.44 on Tuesday, reaching $102.93. 686,320 shares of the company's stock were exchanged, compared to its average volume of 2,380,871. Brown & Brown, Inc. has a twelve month low of $95.44 and a twelve month high of $125.68. The company has a fifty day moving average of $109.05 and a 200-day moving average of $111.56. The company has a market capitalization of $29.51 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 2.27 and a beta of 0.82. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the company earned $1.14 EPS. Brown & Brown's revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.58%. Brown & Brown's dividend payout ratio is currently 16.71%.

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.