Voya Investment Management LLC Buys 7,094 Shares of Brown & Brown, Inc. (NYSE:BRO)

Voya Investment Management LLC increased its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,198 shares of the financial services provider's stock after acquiring an additional 7,094 shares during the period. Voya Investment Management LLC owned about 0.06% of Brown & Brown worth $17,058,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in Brown & Brown in the 4th quarter valued at $28,000. Y.D. More Investments Ltd lifted its holdings in shares of 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 worth $30,000 after buying an additional 162 shares in the last quarter. R Squared Ltd purchased a new position in shares of Brown & Brown during the 4th quarter valued at $31,000. SBI Securities Co. Ltd. purchased a new position in Brown & Brown during the fourth quarter worth about $37,000. Finally, Versant Capital Management Inc raised its stake in Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Brown & Brown Price Performance

NYSE BRO traded down $1.55 during trading on Thursday, hitting $109.05. 2,104,714 shares of the stock traded hands, compared to its average volume of 1,459,201. The company has a market capitalization of $31.25 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a 12-month low of $81.57 and a 12-month high of $125.68. The firm has a 50-day simple moving average of $117.91 and a 200-day simple moving average of $110.62. 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 issued 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). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The business had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The business's quarterly revenue was up 11.6% on a year-over-year basis. As a group, analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is 16.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Royal Bank of Canada increased their price objective on Brown & Brown from $118.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. UBS Group upped their target price on Brown & Brown from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, April 9th. Morgan Stanley restated an "equal weight" rating and set a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. Wells Fargo & Company raised their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Finally, Bank of America upped their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $116.83.

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.