Brown & Brown, Inc. (NYSE:BRO) Stake Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 582,811 shares of the financial services provider's stock after buying an additional 5,106 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of Brown & Brown worth $72,502,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Heirloom Wealth Management raised its position in shares of Brown & Brown by 4.1% in the first quarter. Heirloom Wealth Management now owns 54,348 shares of the financial services provider's stock valued at $6,761,000 after buying an additional 2,124 shares during the last quarter. Highland Capital Management LLC acquired a new stake in shares of Brown & Brown during the 1st quarter worth $1,400,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Brown & Brown by 11.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,993 shares of the financial services provider's stock worth $4,056,000 after buying an additional 3,362 shares during the period. Transcend Capital Advisors LLC boosted its holdings in Brown & Brown by 6.8% in the first quarter. Transcend Capital Advisors LLC now owns 2,164 shares of the financial services provider's stock valued at $269,000 after acquiring an additional 138 shares during the last quarter. Finally, Board of the Pension Protection Fund grew its position in Brown & Brown by 580.0% during the first quarter. Board of the Pension Protection Fund now owns 6,800 shares of the financial services provider's stock valued at $846,000 after acquiring an additional 5,800 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BRO has been the topic of several research reports. BMO Capital Markets restated an "outperform" rating and issued a $122.00 price target (up previously from $116.00) on shares of Brown & Brown in a report on Thursday, June 12th. The Goldman Sachs Group lowered shares of Brown & Brown from a "buy" rating to a "neutral" rating and reduced their target price for the company from $126.00 to $119.00 in a report on Tuesday, May 13th. Jefferies Financial Group increased 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. Wells Fargo & Company restated an "overweight" rating and set a $127.00 price objective (up previously from $125.00) on shares of Brown & Brown in a research note on Thursday, June 12th. Finally, UBS Group upped 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 research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $118.85.

Brown & Brown Stock Up 0.1%

Shares of Brown & Brown stock traded up $0.07 on Thursday, hitting $107.88. 2,979,452 shares of the company's stock traded hands, compared to its average volume of 1,841,075. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.55. The firm's 50-day moving average is $110.24 and its 200 day moving average is $111.10. The stock has a market cap of $30.93 billion, a P/E ratio of 30.05, a PEG ratio of 2.39 and a beta of 0.82. Brown & Brown, Inc. has a 52-week low of $88.94 and a 52-week high of $125.68.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Brown & Brown had a net margin of 20.84% and a return on equity of 17.77%. The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. Equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

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