Net Worth Advisory Group Invests $334,000 in Brown & Brown, Inc. (NYSE:BRO)

Net Worth Advisory Group bought 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 & Exchange Commission. The institutional investor bought 2,689 shares of the financial services provider's stock, valued at approximately $334,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Brown & Brown during the fourth quarter worth approximately $313,412,000. First Trust Advisors LP boosted its holdings in shares of Brown & Brown by 626.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider's stock valued at $239,751,000 after purchasing an additional 2,026,589 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Brown & Brown in the 4th quarter valued at $198,031,000. Vanguard Group Inc. boosted 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 purchasing an additional 1,335,964 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of 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 purchasing an additional 1,104,852 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

Shares of NYSE BRO traded up $0.44 during midday trading on Monday, reaching $107.06. The company's stock had a trading volume of 3,467,936 shares, compared to its average volume of 1,652,420. Brown & Brown, Inc. has a 12-month low of $88.31 and a 12-month high of $125.68. The firm has a 50 day moving average price of $112.27 and a 200-day moving average price of $111.00. The stock has a market capitalization of $30.69 billion, a P/E ratio of 30.94, a PEG ratio of 2.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $1.14 EPS. As a group, equities analysts predict 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 yield of 0.56%. Brown & Brown's payout ratio is 16.71%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Edward Jones assumed coverage on Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating on the stock. Barclays lifted their price objective on Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Wells Fargo & Company restated an "overweight" rating and issued a $127.00 target price (up from $125.00) on shares of Brown & Brown in a research note on Thursday. 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 research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods raised their target price on Brown & Brown from $100.00 to $102.00 and gave the company an "underperform" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $118.85.

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.