Port Capital LLC Grows Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Port Capital LLC raised its position in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 1.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 240,332 shares of the financial services provider's stock after buying an additional 2,423 shares during the quarter. Port Capital LLC owned about 0.08% of Brown & Brown worth $24,519,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Brown & Brown in the fourth quarter valued at about $28,000. Johnson Financial Group Inc. grew its holdings in Brown & Brown by 534.1% in the fourth 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 during the last quarter. Y.D. More Investments Ltd grew its holdings in 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 valued at $30,000 after purchasing an additional 162 shares during the last quarter. R Squared Ltd acquired a new position in shares of Brown & Brown during the 4th quarter worth $31,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Brown & Brown during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

BRO has been the topic of a number of analyst reports. The Goldman Sachs Group cut Brown & Brown from a "buy" rating to a "neutral" rating and lowered their target price for the company from $126.00 to $119.00 in a report on Tuesday. Morgan Stanley restated an "equal weight" rating and issued a $128.00 target price on shares of Brown & Brown in a report on Tuesday, March 25th. Keefe, Bruyette & Woods lowered their price target on shares of Brown & Brown from $102.00 to $100.00 and set an "underperform" rating for the company in a report on Monday, May 5th. Royal Bank of Canada raised their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Finally, Edward Jones began coverage on Brown & Brown in a research note on Wednesday, April 16th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $116.85.

Brown & Brown Stock Performance

NYSE BRO opened at $108.40 on Thursday. The company's fifty day moving average is $116.57 and its two-hundred day moving average is $110.91. The firm has a market capitalization of $31.07 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 2.93 and a beta of 0.87. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Brown & Brown, Inc. has a 52-week low of $85.97 and a 52-week high of $125.68.

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

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.55%. Brown & Brown's payout ratio is 16.71%.

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.

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