Brown & Brown, Inc. (NYSE:BRO) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 15.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,331 shares of the financial services provider's stock after purchasing an additional 3,141 shares during the period. QRG Capital Management Inc.'s holdings in Brown & Brown were worth $2,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Brown & Brown in the 4th quarter worth about $28,000. Johnson Financial Group Inc. grew its stake in shares of Brown & Brown by 534.1% during the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after buying an additional 235 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of Brown & Brown by 581.8% during the fourth quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after buying an additional 256 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Brown & Brown in the fourth quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Brown & Brown by 79.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 490 shares of the financial services provider's stock worth $50,000 after acquiring an additional 217 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Price Performance

NYSE:BRO traded up $0.19 during trading hours on Thursday, reaching $108.31. 3,705,520 shares of the company were exchanged, compared to its average volume of 1,676,821. 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 firm has a market cap of $31.05 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.37 and a beta of 0.84. Brown & Brown, Inc. has a twelve month low of $88.31 and a twelve month high of $125.68. The stock's 50-day moving average is $111.94 and its 200-day moving average is $110.96.

Brown & Brown (NYSE:BRO - Get Free Report) last issued 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). Brown & Brown had a return on equity of 17.77% and a net margin of 20.84%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The business's revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is presently 16.71%.

Wall Street Analyst Weigh In

BRO has been the topic of several research analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $127.00 price objective (up previously from $125.00) on shares of Brown & Brown in a research report on Thursday, June 12th. Jefferies Financial Group upped their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Edward Jones assumed coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They issued a "buy" rating on the stock. Barclays boosted their price objective 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. Finally, Keefe, Bruyette & Woods upped their target price on shares of Brown & Brown from $100.00 to $102.00 and gave the stock an "underperform" rating in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Brown & Brown has an average rating of "Hold" and an average target price 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.