Novem Group Boosts Stake in Brown & Brown, Inc. (NYSE:BRO)

Novem Group lifted its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 31.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,949 shares of the financial services provider's stock after purchasing an additional 2,397 shares during the quarter. Novem Group's holdings in Brown & Brown were worth $1,238,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BRO. Capital Investment Advisors LLC bought a new position in Brown & Brown in the first quarter valued at approximately $1,929,000. Fifth Third Bancorp boosted its position in shares of Brown & Brown by 7.1% during the first quarter. Fifth Third Bancorp now owns 6,807 shares of the financial services provider's stock worth $847,000 after buying an additional 450 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Brown & Brown by 395.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider's stock valued at $3,489,000 after purchasing an additional 27,297 shares in the last quarter. National Bank of Canada FI grew its position in Brown & Brown by 56.8% in the fourth quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider's stock valued at $19,365,000 after purchasing an additional 68,745 shares in the last quarter. Finally, FORA Capital LLC acquired a new position in Brown & Brown during the fourth quarter valued at approximately $580,000. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Performance

NYSE BRO traded up $0.07 during trading hours on Thursday, reaching $107.88. The stock had a trading volume of 2,979,841 shares, compared to its average volume of 1,845,607. Brown & Brown, Inc. has a 52-week low of $89.25 and a 52-week high of $125.68. The stock has a market cap of $30.93 billion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 2.36 and a beta of 0.82. The stock has a fifty day moving average of $110.24 and a 200 day moving average of $111.10. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 2.52.

Brown & Brown (NYSE:BRO - Get Free Report) last announced its 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). Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The business had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter last year, the business earned $1.14 EPS. The company's quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on BRO. Jefferies Financial Group raised their price target on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a report on Friday, April 11th. UBS Group boosted their price target on Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $127.00 target price (up previously from $125.00) on shares of Brown & Brown in a report on Thursday, June 12th. The Goldman Sachs Group downgraded Brown & Brown from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $126.00 to $119.00 in a report on Tuesday, May 13th. Finally, Barclays increased their target price on shares of Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Brown & Brown presently has a consensus rating of "Hold" and an average price target of $118.85.

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.