Commonwealth Equity Services LLC Purchases 1,238 Shares of Brown & Brown, Inc. (NYSE:BRO)

Commonwealth Equity Services LLC raised its position in Brown & Brown, Inc. (NYSE:BROGet Rating) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,643 shares of the financial services provider’s stock after purchasing an additional 1,238 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Brown & Brown were worth $4,402,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Brown & Brown during the fourth quarter worth $449,898,000. Geode Capital Management LLC lifted its holdings in Brown & Brown by 41.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,468,048 shares of the financial services provider’s stock worth $247,307,000 after buying an additional 1,299,653 shares during the period. NN Investment Partners Holdings N.V. grew its position in shares of Brown & Brown by 0.6% in the 4th quarter. NN Investment Partners Holdings N.V. now owns 3,661,847 shares of the financial services provider’s stock valued at $257,355,000 after buying an additional 20,489 shares during the last quarter. Invesco Ltd. increased its stake in shares of Brown & Brown by 145.5% in the third quarter. Invesco Ltd. now owns 2,130,779 shares of the financial services provider’s stock valued at $118,152,000 after buying an additional 1,262,929 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Brown & Brown by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,593,419 shares of the financial services provider’s stock worth $88,365,000 after acquiring an additional 40,437 shares during the last quarter. Hedge funds and other institutional investors own 74.02% of the company’s stock.

Shares of Brown & Brown stock opened at $72.96 on Monday. Brown & Brown, Inc. has a one year low of $47.18 and a one year high of $74.00. The firm has a market capitalization of $20.66 billion, a price-to-earnings ratio of 35.25 and a beta of 0.74. The business has a 50-day simple moving average of $68.06 and a 200 day simple moving average of $65.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.04 and a quick ratio of 1.04.

Brown & Brown (NYSE:BROGet Rating) last issued its earnings results on Monday, January 24th. The financial services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Brown & Brown had a return on equity of 15.43% and a net margin of 19.24%. The business had revenue of $738.50 million during the quarter, compared to analyst estimates of $725.36 million. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, sell-side analysts expect that Brown & Brown, Inc. will post 2.32 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 16th. Shareholders of record on Friday, February 4th were paid a dividend of $0.1025 per share. The ex-dividend date was Thursday, February 3rd. This represents a $0.41 dividend on an annualized basis and a yield of 0.56%. Brown & Brown’s dividend payout ratio (DPR) is presently 19.81%.

A number of research firms have weighed in on BRO. StockNews.com initiated coverage on shares of Brown & Brown in a research report on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company raised their price target on shares of Brown & Brown from $64.00 to $66.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 4th. Royal Bank of Canada raised their price target on shares of Brown & Brown from $64.00 to $67.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 26th. Zacks Investment Research lowered shares of Brown & Brown from a “buy” rating to a “hold” rating and set a $67.00 price target for the company. in a report on Thursday, January 27th. Finally, Raymond James lifted their price objective on Brown & Brown from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 21st. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.11.

In other Brown & Brown news, Director H Palmer Proctor, Jr. purchased 2,000 shares of the firm’s stock in a transaction on Thursday, January 27th. The stock was acquired at an average price of $61.53 per share, for a total transaction of $123,060.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 17.02% of the company’s stock.

Brown & Brown Company Profile (Get Rating)

Brown & Brown, Inc markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services.

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Institutional Ownership by Quarter for Brown & Brown (NYSE:BRO)

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