IFM Investors Pty Ltd Boosts Stake in Brown & Brown, Inc. (NYSE:BRO)

IFM Investors Pty Ltd increased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 16.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,693 shares of the financial services provider's stock after purchasing an additional 7,472 shares during the period. IFM Investors Pty Ltd's holdings in Brown & Brown were worth $6,679,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider's stock valued at $3,054,493,000 after acquiring an additional 1,335,964 shares during the period. Principal Financial Group Inc. grew its stake in Brown & Brown by 0.3% in the first quarter. Principal Financial Group Inc. now owns 12,940,046 shares of the financial services provider's stock valued at $1,609,742,000 after purchasing an additional 38,078 shares during the last quarter. Geode Capital Management LLC raised its holdings in Brown & Brown by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 6,099,649 shares of the financial services provider's stock worth $620,737,000 after purchasing an additional 118,569 shares in the last quarter. Capital World Investors lifted its position in shares of Brown & Brown by 15.6% during the fourth quarter. Capital World Investors now owns 4,195,681 shares of the financial services provider's stock valued at $428,043,000 after buying an additional 566,116 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Brown & Brown by 11.4% in the 4th quarter. Invesco Ltd. now owns 3,803,616 shares of the financial services provider's stock valued at $388,045,000 after buying an additional 388,411 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Stock Performance

Shares of NYSE:BRO traded down $0.96 during trading on Monday, hitting $107.74. The stock had a trading volume of 3,500,827 shares, compared to its average volume of 1,856,317. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a 12-month low of $89.92 and a 12-month high of $125.68. The stock has a market capitalization of $30.89 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 2.38 and a beta of 0.82. The stock has a 50-day simple moving average of $109.77 and a two-hundred day simple moving average of $111.33.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) 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 analysts' expectations of $1.41 billion. Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 earnings per share. On average, equities research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Monday, May 12th. Brown & Brown's payout ratio is presently 16.71%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BRO. The Goldman Sachs Group lowered shares of Brown & Brown from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $126.00 to $119.00 in a research note on Tuesday, May 13th. Barclays reduced their price target on Brown & Brown from $121.00 to $111.00 and set an "equal weight" rating on the stock in a research report on Monday. Keefe, Bruyette & Woods raised their price objective on Brown & Brown from $100.00 to $102.00 and gave the stock an "underperform" rating in a research report on Friday, June 13th. Morgan Stanley restated an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. Finally, Jefferies Financial Group increased their price target on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and a consensus 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.