Nissay Asset Management Corp Japan ADV lowered its stake in Brown & Brown, Inc. (NYSE:BRO) by 2.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 25,819 shares of the financial services provider’s stock after selling 594 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Brown & Brown were worth $1,052,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BRO. Fred Alger Management LLC boosted its stake in Brown & Brown by 90.9% during the 1st quarter. Fred Alger Management LLC now owns 800 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 381 shares during the period. Allred Capital Management LLC boosted its stake in Brown & Brown by 43.0% during the 1st quarter. Allred Capital Management LLC now owns 1,210 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 364 shares during the period. Column Capital Advisors LLC acquired a new position in Brown & Brown during the 1st quarter valued at about $46,000. Trust Co. of Vermont acquired a new stake in shares of Brown & Brown in the 1st quarter worth approximately $51,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of Brown & Brown by 99.1% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 2,146 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 1,068 shares during the period. 71.15% of the stock is owned by institutional investors.
Several analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Brown & Brown from $44.00 to $47.00 and gave the company an “equal weight” rating in a research note on Wednesday. SunTrust Banks increased their price target on shares of Brown & Brown from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday. Credit Suisse Group restated a “hold” rating and set a $38.00 price target on shares of Brown & Brown in a research note on Tuesday, April 28th. Finally, Royal Bank of Canada upped their price objective on shares of Brown & Brown from $38.00 to $44.00 and gave the stock a “sector perform” rating in a report on Wednesday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.71.
Shares of BRO stock opened at $45.47 on Friday. Brown & Brown, Inc. has a 52-week low of $30.70 and a 52-week high of $48.69. The stock has a market cap of $12.89 billion, a price-to-earnings ratio of 29.91 and a beta of 0.68. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 0.98. The firm has a fifty day moving average of $42.04 and a 200-day moving average of $40.83.
Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. Brown & Brown had a net margin of 17.69% and a return on equity of 12.54%. The company had revenue of $598.20 million during the quarter, compared to analysts’ expectations of $576.26 million. During the same quarter in the prior year, the company posted $0.32 EPS. The business’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts predict that Brown & Brown, Inc. will post 1.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, August 5th will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, August 4th. Brown & Brown’s dividend payout ratio (DPR) is currently 24.29%.
Brown & Brown Company Profile
Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.
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