Florida Financial Advisors LLC Makes New $364,000 Investment in Brown & Brown, Inc. (NYSE:BRO)

Florida Financial Advisors LLC acquired a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,933 shares of the financial services provider's stock, valued at approximately $364,000.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Brown & Brown during the 4th quarter worth $313,412,000. First Trust Advisors LP lifted its position in Brown & Brown by 626.6% during the fourth quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock worth $239,751,000 after purchasing an additional 2,026,589 shares during the period. Vanguard Group Inc. grew its stake in Brown & Brown by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock worth $3,054,493,000 after buying an additional 1,335,964 shares in the last quarter. GAMMA Investing LLC increased its holdings in Brown & Brown by 13,974.9% in the 1st quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider's stock valued at $138,427,000 after buying an additional 1,104,852 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of Brown & Brown by 172.5% in the 1st quarter. Handelsbanken Fonder AB now owns 1,314,434 shares of the financial services provider's stock valued at $163,516,000 after buying an additional 832,100 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Trading Down 1.2%

NYSE:BRO traded down $1.31 during trading hours on Wednesday, hitting $104.94. 3,438,056 shares of the company were exchanged, compared to its average volume of 1,909,378. Brown & Brown, Inc. has a one year low of $92.29 and a one year high of $125.68. 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 stock has a market capitalization of $30.08 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 2.33 and a beta of 0.82. The company has a fifty day simple moving average of $109.34 and a 200 day simple moving average of $111.39.

Brown & Brown (NYSE:BRO - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 EPS. Sell-side analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Monday, May 12th. Brown & Brown's dividend payout ratio is presently 16.71%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BRO. UBS Group increased their price target on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 9th. Jefferies Financial Group raised their target price on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a report on Friday, April 11th. The Goldman Sachs Group cut Brown & Brown from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $126.00 to $119.00 in a report on Tuesday, May 13th. Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $102.00 to $104.00 and gave the company an "underperform" rating in a research note on Wednesday, July 9th. Finally, Barclays lowered their target price on Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Brown & Brown has a consensus rating of "Hold" and an average target price of $118.23.

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.