Segall Bryant & Hamill LLC lessened its position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,490 shares of the financial services provider's stock after selling 6,860 shares during the quarter. Segall Bryant & Hamill LLC's holdings in Brown & Brown were worth $14,740,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Capital Investment Advisors LLC purchased a new stake in Brown & Brown during the 1st quarter valued at about $1,929,000. Fifth Third Bancorp grew its stake in Brown & Brown by 7.1% during the 1st quarter. Fifth Third Bancorp now owns 6,807 shares of the financial services provider's stock valued at $847,000 after purchasing an additional 450 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Brown & Brown by 395.6% during the 4th 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 during the last quarter. Tandem Investment Advisors Inc. grew its stake in Brown & Brown by 2.5% during the 1st quarter. Tandem Investment Advisors Inc. now owns 764,709 shares of the financial services provider's stock valued at $95,130,000 after purchasing an additional 18,677 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of 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 worth $19,365,000 after buying an additional 68,745 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.
Brown & Brown Price Performance
Shares of BRO traded down $0.21 during mid-day trading on Friday, hitting $103.92. 1,973,087 shares of the company were exchanged, compared to its average volume of 1,917,945. The stock has a market cap of $29.79 billion, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 2.30 and a beta of 0.82. Brown & Brown, Inc. has a 1-year low of $92.29 and a 1-year high of $125.68. The company has a 50 day moving average of $109.20 and a 200-day moving average of $111.40. 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 issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share 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 analysts' expectations of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The company'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. Analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.
Brown & Brown Announces Dividend
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Monday, May 12th. Brown & Brown's dividend payout ratio is presently 16.71%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on BRO. Jefferies Financial Group upped their target price on Brown & Brown from $105.00 to $109.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Edward Jones began coverage on Brown & Brown in a research note on Wednesday, April 16th. They issued a "buy" rating on the stock. Keefe, Bruyette & Woods upped their target price on Brown & Brown from $102.00 to $104.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 9th. Wells Fargo & Company restated an "overweight" rating and issued a $127.00 target price (up previously from $125.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $122.00 target price (up previously from $116.00) on shares of Brown & Brown in a research note on Thursday, June 12th. One equities research 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's stock. Based on data from MarketBeat.com, Brown & Brown currently has an average rating of "Hold" and an average target price of $118.23.
Get Our Latest Stock Analysis on BRO
About Brown & Brown
(
Free Report)
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.
Featured Articles
Before you consider Brown & Brown, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Brown & Brown wasn't on the list.
While Brown & Brown currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
