Brown & Brown, Inc. $BRO Shares Bought by Captrust Financial Advisors

Captrust Financial Advisors lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 510,244 shares of the financial services provider’s stock after buying an additional 11,685 shares during the quarter. Captrust Financial Advisors owned approximately 0.15% of Brown & Brown worth $47,856,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BRO. Bank of New York Mellon Corp boosted its position in Brown & Brown by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 1,420,814 shares of the financial services provider’s stock worth $133,258,000 after acquiring an additional 51,959 shares during the last quarter. Tandem Investment Advisors Inc. raised its holdings in Brown & Brown by 69.7% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 1,385,214 shares of the financial services provider’s stock valued at $129,919,000 after acquiring an additional 569,037 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Brown & Brown by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock worth $3,501,264,000 after purchasing an additional 1,705,570 shares during the period. Invesco Ltd. lifted its stake in shares of Brown & Brown by 1.1% during the 2nd quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock worth $461,925,000 after purchasing an additional 46,235 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Brown & Brown by 43.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,600 shares of the financial services provider’s stock worth $4,558,000 after purchasing an additional 14,678 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BRO. Wolfe Research started coverage on Brown & Brown in a research report on Thursday, November 20th. They issued a “peer perform” rating for the company. Argus upgraded Brown & Brown to a “hold” rating in a research report on Tuesday, January 27th. Keefe, Bruyette & Woods raised Brown & Brown from an “underperform” rating to a “market perform” rating and decreased their price target for the stock from $80.00 to $73.00 in a research note on Thursday, January 29th. Mizuho upgraded Brown & Brown from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $84.00 to $85.00 in a report on Friday, February 27th. Finally, Wells Fargo & Company dropped their price objective on shares of Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating for the company in a research note on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $89.33.

Brown & Brown Stock Down 1.8%

Shares of Brown & Brown stock opened at $67.09 on Thursday. Brown & Brown, Inc. has a twelve month low of $65.68 and a twelve month high of $125.68. The stock has a market cap of $22.84 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 1.83 and a beta of 0.79. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average price of $72.78 and a 200 day moving average price of $81.08.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The firm’s revenue was up 35.7% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s dividend payout ratio (DPR) is presently 20.63%.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.