J. Safra Sarasin Holding AG Makes New Investment in Brown & Brown, Inc. (NYSE:BRO)

Key Points

• J. Safra Sarasin Holding AG has acquired a new position in Brown & Brown, Inc., purchasing 22,733 shares valued at approximately $2.83 million.
• Analysts show a mixed sentiment on Brown & Brown, with one sell rating, seven hold ratings, and six buy ratings, and an average price target of $114.25.
• Brown & Brown recently announced a quarterly dividend of $0.15 per share, representing an annualized yield of 0.7%.

J. Safra Sarasin Holding AG bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,733 shares of the financial services provider's stock, valued at approximately $2,828,000.

Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in Brown & Brown by 3.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 44,858 shares of the financial services provider's stock valued at $5,580,000 after acquiring an additional 1,672 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Brown & Brown by 63.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 530,887 shares of the financial services provider's stock valued at $66,042,000 after acquiring an additional 206,645 shares in the last quarter. Baker Avenue Asset Management LP purchased a new stake in Brown & Brown during the 1st quarter valued at about $1,355,000. Jefferies Financial Group Inc. purchased a new stake in Brown & Brown during the 1st quarter valued at about $3,043,000. Finally, US Bancorp DE grew its stake in Brown & Brown by 209.0% during the 1st quarter. US Bancorp DE now owns 93,057 shares of the financial services provider's stock valued at $11,576,000 after acquiring an additional 62,940 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Down 0.4%

NYSE:BRO traded down $0.38 during trading hours on Tuesday, hitting $92.32. The company's stock had a trading volume of 656,299 shares, compared to its average volume of 2,533,327. The stock has a market capitalization of $30.45 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 2.09 and a beta of 0.78. The stock has a fifty day moving average of $106.27 and a 200-day moving average of $111.19. The company has a current ratio of 6.72, a quick ratio of 6.72 and a debt-to-equity ratio of 0.64. Brown & Brown, Inc. has a 52-week low of $90.55 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, July 28th. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Brown & Brown had a net margin of 19.89% and a return on equity of 15.10%. The company's revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, August 13th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, August 13th. Brown & Brown's dividend payout ratio (DPR) is 17.29%.

Analysts Set New Price Targets

BRO has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price 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. Barclays decreased their target price on shares of Brown & Brown from $111.00 to $108.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 29th. BMO Capital Markets decreased their target price on shares of Brown & Brown from $122.00 to $106.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Bank of America upgraded shares of Brown & Brown from a "neutral" rating to a "buy" rating and boosted their target price for the company from $126.00 to $130.00 in a report on Wednesday, July 30th. Finally, Raymond James Financial restated an "outperform" rating and issued a $120.00 price objective (down from $125.00) on shares of Brown & Brown in a report on Monday. 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. Based on data from MarketBeat, Brown & Brown currently has a consensus rating of "Hold" and an average price target of $114.69.

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.