CenterBook Partners LP Makes New $1.10 Million Investment in Brown & Brown, Inc. $BRO

CenterBook Partners LP acquired a new stake in Brown & Brown, Inc. (NYSE:BRO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,693 shares of the financial services provider’s stock, valued at approximately $1,097,000.

Several other hedge funds have also recently bought and sold shares of the company. Darwin Wealth Management LLC acquired a new position in Brown & Brown in the 2nd quarter valued at about $30,000. Cornerstone Planning Group LLC boosted its stake in shares of Brown & Brown by 423.1% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares during the period. Motco acquired a new position in shares of Brown & Brown in the second quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Brown & Brown during the 2nd quarter worth approximately $49,000. Finally, Evelyn Partners Investment Management LLP acquired a new stake in Brown & Brown during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Price Performance

BRO stock opened at $69.57 on Friday. The business has a 50 day moving average price of $76.41 and a 200 day moving average price of $84.30. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. The stock has a market cap of $23.68 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 2.10 and a beta of 0.79. Brown & Brown, Inc. has a fifty-two week low of $65.68 and a fifty-two week high of $125.68.

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

Brown & Brown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s dividend payout ratio is currently 20.63%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BRO shares. Bank of America dropped their price target on shares of Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, January 27th. Argus upgraded Brown & Brown to a “hold” rating in a report on Tuesday, January 27th. Barclays decreased their price objective on Brown & Brown from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 27th. BMO Capital Markets cut their target price on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research note on Thursday, January 29th. Finally, Wolfe Research initiated coverage on shares of Brown & Brown in a report on Thursday, November 20th. They issued a “peer perform” rating on the stock. Three equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.36.

Brown & Brown Company Profile

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.