Brown & Brown, Inc. (NYSE:BRO) Position Boosted by EULAV Asset Management

EULAV Asset Management boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 3.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 444,900 shares of the financial services provider's stock after purchasing an additional 14,000 shares during the period. Brown & Brown makes up 1.4% of EULAV Asset Management's investment portfolio, making the stock its 20th largest holding. EULAV Asset Management owned about 0.16% of Brown & Brown worth $55,346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BRO. Phillips Wealth Planners LLC boosted its holdings in shares of Brown & Brown by 3.4% in the first quarter. Phillips Wealth Planners LLC now owns 2,659 shares of the financial services provider's stock valued at $316,000 after acquiring an additional 88 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in shares of Brown & Brown by 2.3% in the first quarter. Gateway Investment Advisers LLC now owns 4,312 shares of the financial services provider's stock valued at $536,000 after acquiring an additional 97 shares in the last quarter. Blue Trust Inc. boosted 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 acquiring an additional 105 shares in the last quarter. Lido Advisors LLC boosted 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 acquiring an additional 120 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its holdings in shares of Brown & Brown by 6.8% in the first quarter. Transcend Capital Advisors LLC now owns 2,164 shares of the financial services provider's stock valued at $269,000 after acquiring an additional 138 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Stock Down 0.5%

BRO traded down $0.53 during trading on Tuesday, hitting $107.28. The company had a trading volume of 3,346,685 shares, compared to its average volume of 1,867,212. The company has a market cap of $30.76 billion, a PE ratio of 29.88, a P/E/G ratio of 2.36 and a beta of 0.82. Brown & Brown, Inc. has a 1-year low of $89.92 and a 1-year high of $125.68. The business has a 50-day moving average of $109.76 and a 200-day moving average of $111.30. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.52 and a quick ratio of 2.52.

Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company posted $1.14 earnings per share. As a group, analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.56%. Brown & Brown's dividend payout ratio (DPR) is 16.71%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Morgan Stanley reiterated an "equal weight" rating and issued a $128.00 price objective on shares of Brown & Brown in a research note on Tuesday, March 25th. Jefferies Financial Group lifted their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. UBS Group lifted their price target on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. Keefe, Bruyette & Woods upped their price target on shares of Brown & Brown from $100.00 to $102.00 and gave the stock an "underperform" rating in a research report on Friday, June 13th. Finally, The Goldman Sachs Group lowered Brown & Brown from a "buy" rating to a "neutral" rating and cut their target price for the stock from $126.00 to $119.00 in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $118.08.

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.