Universal Beteiligungs und Servicegesellschaft mbH Invests $17.33 Million in Brown & Brown, Inc. (NYSE:BRO)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Brown & Brown, Inc. (NYSE:BRO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 169,825 shares of the financial services provider's stock, valued at approximately $17,326,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.06% of Brown & Brown at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Journey Strategic Wealth LLC raised its holdings in shares of Brown & Brown by 2.3% in the fourth quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock worth $458,000 after buying an additional 99 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Brown & Brown by 3.4% during the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider's stock worth $323,000 after purchasing an additional 103 shares during the last quarter. Lido Advisors LLC raised its holdings in shares of Brown & Brown by 2.6% during the fourth quarter. Lido Advisors LLC now owns 4,690 shares of the financial services provider's stock worth $479,000 after purchasing an additional 120 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Brown & Brown by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,379 shares of the financial services provider's stock worth $2,079,000 after purchasing an additional 130 shares during the last quarter. Finally, Greenleaf Trust raised its holdings in shares of Brown & Brown by 0.9% during the fourth quarter. Greenleaf Trust now owns 15,475 shares of the financial services provider's stock worth $1,579,000 after purchasing an additional 139 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 NYSE BRO traded down $1.93 during trading on Tuesday, hitting $111.47. The company had a trading volume of 199,263 shares, compared to its average volume of 1,479,034. The stock has a fifty day simple moving average of $114.53 and a two-hundred day simple moving average of $111.24. Brown & Brown, Inc. has a fifty-two week low of $88.09 and a fifty-two week high of $125.68. The firm has a market capitalization of $31.95 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87. 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 (NYSE:BRO - Get Free Report) last announced its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the business earned $1.14 EPS. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were given a $0.15 dividend. The ex-dividend date of this dividend was 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 16.71%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BRO shares. UBS Group raised their target price on shares of Brown & Brown from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, April 9th. Barclays raised their target price on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Edward Jones started coverage on shares of Brown & Brown in a report on Wednesday, April 16th. They set a "buy" rating for the company. The Goldman Sachs Group cut shares of Brown & Brown from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $126.00 to $119.00 in a report on Tuesday, May 13th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Brown & Brown has an average rating of "Hold" and a consensus price target of $118.25.

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.