Atlas Legacy Advisors LLC Makes New Investment in Brown & Brown, Inc. (NYSE:BRO)

Atlas Legacy Advisors LLC purchased a new position in shares of Brown & Brown, Inc. (NYSE:BRO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,207 shares of the financial services provider’s stock, valued at approximately $939,000.

Other large investors also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in shares of Brown & Brown during the 3rd quarter worth $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Brown & Brown during the 3rd quarter worth $29,000. Y.D. More Investments Ltd lifted its stake in shares of Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd acquired a new stake in shares of Brown & Brown during the 4th quarter worth $31,000. Finally, Versant Capital Management Inc increased its holdings in shares of Brown & Brown by 130.7% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.8 %

Shares of NYSE BRO opened at $111.43 on Wednesday. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $114.15. The company has a market cap of $31.86 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.90 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average price of $104.64 and a 200 day moving average price of $105.19.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Research analysts anticipate that Brown & Brown, Inc. will post 4.17 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown’s dividend payout ratio is presently 17.34%.

Analyst Ratings Changes

A number of research firms have recently commented on BRO. Keefe, Bruyette & Woods dropped their price objective on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Barclays upped their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Morgan Stanley began coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. Finally, Royal Bank of Canada upped their price objective on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Brown & Brown currently has a consensus rating of “Hold” and an average price target of $113.17.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.