Ameriflex Group Inc. Increases Holdings in Brown & Brown, Inc. $BRO

Ameriflex Group Inc. grew its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 100.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,180 shares of the financial services provider’s stock after buying an additional 17,590 shares during the period. Brown & Brown accounts for 1.2% of Ameriflex Group Inc.’s investment portfolio, making the stock its 17th largest position. Ameriflex Group Inc.’s holdings in Brown & Brown were worth $3,300,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Brown & Brown by 38.3% during the first quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock valued at $4,132,000 after acquiring an additional 9,264 shares during the last quarter. Focus Partners Wealth grew its position in shares of Brown & Brown by 5.2% in the 1st quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock worth $1,387,000 after buying an additional 547 shares during the period. Assetmark Inc. increased its holdings in shares of Brown & Brown by 189.8% during the second quarter. Assetmark Inc. now owns 623 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 408 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Brown & Brown by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,368,855 shares of the financial services provider’s stock worth $151,765,000 after purchasing an additional 40,593 shares during the last quarter. Finally, Huntington National Bank boosted its stake in Brown & Brown by 21.7% in the 2nd quarter. Huntington National Bank now owns 3,561 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 636 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BRO. UBS Group reaffirmed a “neutral” rating and set a $81.00 price target (down from $90.00) on shares of Brown & Brown in a report on Thursday, January 29th. Jefferies Financial Group dropped their target price on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Keefe, Bruyette & Woods raised shares of Brown & Brown from an “underperform” rating to a “market perform” rating and reduced their target price for the company from $80.00 to $73.00 in a report on Thursday, January 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brown & Brown in a research note on Monday, December 29th. Finally, Wells Fargo & Company reduced their price objective on 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 analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus target price of $90.43.

Brown & Brown Trading Up 0.5%

Shares of NYSE BRO opened at $73.48 on Friday. The stock has a market capitalization of $25.01 billion, a P/E ratio of 22.96, a PEG ratio of 1.96 and a beta of 0.79. The business’s 50 day moving average is $74.54 and its two-hundred day moving average is $82.74. Brown & Brown, Inc. has a 1-year low of $65.68 and a 1-year high of $125.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. As a group, research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, February 4th. Brown & Brown’s payout ratio is presently 20.63%.

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.