Sone Capital Management LLC Invests $2.74 Million in Brown & Brown, Inc. (NYSE:BRO)

Sone Capital Management LLC bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 26,829 shares of the financial services provider's stock, valued at approximately $2,737,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Brown & Brown during the fourth quarter valued at about $28,000. Johnson Financial Group Inc. increased its stake in Brown & Brown by 534.1% during the 4th quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 235 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in shares of Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock worth $30,000 after buying an additional 162 shares during the last quarter. R Squared Ltd purchased a new position in shares of Brown & Brown in the fourth quarter worth $31,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Brown & Brown during the fourth quarter worth $37,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BRO. Edward Jones initiated coverage on Brown & Brown in a research report on Wednesday, April 16th. They issued a "buy" rating on the stock. Wells Fargo & Company increased their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. The Goldman Sachs Group downgraded Brown & Brown from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $126.00 to $119.00 in a report on Tuesday, May 13th. Keefe, Bruyette & Woods dropped their target price on Brown & Brown from $102.00 to $100.00 and set an "underperform" rating on the stock in a research report on Monday, May 5th. Finally, UBS Group raised their price target on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 9th. One equities 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. Based on data from MarketBeat, Brown & Brown presently has an average rating of "Hold" and an average target price of $116.85.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $111.75 on Monday. The firm has a market cap of $32.03 billion, a PE ratio of 32.30, a P/E/G ratio of 2.93 and a beta of 0.87. The business has a 50-day moving average price of $116.27 and a 200 day moving average price of $111.09. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a twelve month low of $85.97 and a twelve month high of $125.68.

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 for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The company's quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown's dividend payout ratio (DPR) is presently 16.71%.

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.

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