Brown & Brown, Inc. (NYSE:BRO) Holdings Lifted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 17.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,091 shares of the financial services provider's stock after purchasing an additional 4,371 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Brown & Brown were worth $3,743,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BRO. Johnson Financial Group Inc. raised its position in shares of 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 acquiring an additional 235 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Brown & Brown by 581.8% during the 4th quarter. Sunbelt Securities Inc. now owns 300 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 256 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Brown & Brown during the 4th quarter valued at approximately $37,000. Garde Capital Inc. acquired a new stake in shares of Brown & Brown during the 1st quarter valued at approximately $46,000. Finally, EverSource Wealth Advisors LLC raised its position 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 valued at $50,000 after acquiring an additional 217 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group upped their price target on Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research report on Friday, April 11th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $122.00 target price (up from $116.00) on shares of Brown & Brown in a research report on Thursday, June 12th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a research report on Tuesday, March 25th. Keefe, Bruyette & Woods increased their target price on Brown & Brown from $100.00 to $102.00 and gave the stock an "underperform" rating in a research report on Friday, June 13th. Finally, UBS Group increased their target price on 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 assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $118.08.

Brown & Brown Stock Performance

Shares of NYSE:BRO traded down $0.96 on Monday, hitting $107.74. The company's stock had a trading volume of 3,500,827 shares, compared to its average volume of 1,856,318. Brown & Brown, Inc. has a 12 month low of $89.92 and a 12 month high of $125.68. The company has a market capitalization of $30.89 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 2.38 and a beta of 0.82. The stock's 50-day moving average is $109.77 and its two-hundred day moving average is $111.33. 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 for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the business earned $1.14 EPS. The company's quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

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

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.