First National Advisers LLC Has $4.39 Million Holdings in Brown & Brown, Inc. (NYSE:BRO)

Key Points

• First National Advisers LLC increased its holdings in Brown & Brown, Inc. by 8.3%, acquiring an additional 2,716 shares, bringing its total stake to 35,262 shares valued at approximately $4.39 million.
• Several other hedge funds also significantly boosted their stakes in Brown & Brown, with ownership by institutional investors reaching 71.01%.
• Analysts have mixed views on Brown & Brown, with price targets ranging from $111.00 to $138.00, resulting in a consensus rating of "Hold" and a target price of $118.92.

First National Advisers LLC lifted its stake in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,262 shares of the financial services provider's stock after buying an additional 2,716 shares during the period. First National Advisers LLC's holdings in Brown & Brown were worth $4,387,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BRO. Bank Pictet & Cie Europe AG acquired a new position in shares of Brown & Brown in the 4th quarter worth approximately $907,000. LPL Financial LLC boosted its position in Brown & Brown by 30.4% in the 4th quarter. LPL Financial LLC now owns 217,848 shares of the financial services provider's stock valued at $22,225,000 after buying an additional 50,837 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Brown & Brown by 7.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 433,844 shares of the financial services provider's stock worth $44,074,000 after purchasing an additional 31,110 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its position in shares of Brown & Brown by 12.3% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 24,194 shares of the financial services provider's stock worth $2,468,000 after purchasing an additional 2,657 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its position in shares of Brown & Brown by 22.8% in the 4th quarter. UniSuper Management Pty Ltd now owns 25,637 shares of the financial services provider's stock worth $2,615,000 after purchasing an additional 4,759 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on BRO shares. Wells Fargo & Company reaffirmed an "overweight" rating and set a $127.00 price objective (up previously from $125.00) on shares of Brown & Brown in a research note on Thursday, June 12th. UBS Group lifted their price target on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, April 9th. Edward Jones began coverage on Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating on the stock. The Goldman Sachs Group downgraded Brown & Brown from a "buy" rating to a "neutral" rating and lowered their target price for the company from $126.00 to $119.00 in a research report on Tuesday, May 13th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $122.00 price target (up previously from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $118.92.

Brown & Brown Price Performance

Shares of BRO stock traded down $0.83 during trading on Monday, hitting $102.55. The company had a trading volume of 4,145,389 shares, compared to its average volume of 3,182,060. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52. The firm has a market capitalization of $29.40 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 2.26 and a beta of 0.82. The stock's 50-day moving average price is $108.16 and its 200 day moving average price is $111.61. Brown & Brown, Inc. has a one year low of $97.85 and a one year high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. During the same quarter in the prior year, the company earned $0.93 earnings per share. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts expect 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, August 20th. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.59%. Brown & Brown's dividend payout ratio (DPR) is presently 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.