Two Sigma Advisers LP Acquires Shares of 41,700 Brown & Brown, Inc. (NYSE:BRO)

Two Sigma Advisers LP purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,700 shares of the financial services provider's stock, valued at approximately $4,254,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Two Sigma Investments LP boosted its position in Brown & Brown by 564.9% during the fourth quarter. Two Sigma Investments LP now owns 137,664 shares of the financial services provider's stock valued at $14,044,000 after purchasing an additional 116,959 shares in the last quarter. State of Wyoming boosted its position in Brown & Brown by 17.7% during the fourth quarter. State of Wyoming now owns 964 shares of the financial services provider's stock valued at $98,000 after purchasing an additional 145 shares in the last quarter. Strategic Wealth Partners Ltd. increased its position in shares of Brown & Brown by 5.5% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 11,969 shares of the financial services provider's stock worth $1,328,000 after purchasing an additional 628 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of Brown & Brown during the fourth quarter worth $474,000. Finally, Royal Bank of Canada increased its position in shares of Brown & Brown by 2.0% during the fourth quarter. Royal Bank of Canada now owns 2,882,426 shares of the financial services provider's stock worth $294,065,000 after purchasing an additional 56,033 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Stock Performance

NYSE:BRO traded down $1.23 during mid-day trading on Wednesday, hitting $110.85. The company's stock had a trading volume of 1,268,583 shares, compared to its average volume of 1,484,791. Brown & Brown, Inc. has a 1 year low of $85.97 and a 1 year high of $125.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market cap of $31.77 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 2.93 and a beta of 0.87. The business's fifty day moving average is $115.21 and its two-hundred day moving average is $111.21.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). The business had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. Brown & Brown's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 earnings per share. Analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, May 12th. Brown & Brown's payout ratio is currently 16.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have 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 stock a "hold" rating in a research report on Friday, April 11th. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Barclays increased their price target on Brown & Brown from $119.00 to $121.00 and gave the company an "equal weight" rating in a research note on Friday, April 11th. Bank of America increased their price target on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group cut Brown & Brown from a "buy" rating to a "neutral" rating and decreased their price target for the company from $126.00 to $119.00 in a research note on Tuesday, May 13th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $116.85.

Brown & Brown 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.