Concurrent Investment Advisors LLC Purchases 5,440 Shares of Brown & Brown, Inc. (NYSE:BRO)

Concurrent Investment Advisors LLC grew its position in Brown & Brown, Inc. (NYSE:BRO) by 144.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,199 shares of the financial services provider’s stock after acquiring an additional 5,440 shares during the period. Concurrent Investment Advisors LLC’s holdings in Brown & Brown were worth $938,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BRO. Zurich Insurance Group Ltd FI raised its position in shares of Brown & Brown by 258.0% during the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock worth $66,985,000 after acquiring an additional 465,988 shares during the last quarter. Barclays PLC lifted its stake in Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock valued at $255,537,000 after buying an additional 371,980 shares during the period. FMR LLC boosted its holdings in Brown & Brown by 42.4% during the third quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after buying an additional 330,661 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Brown & Brown by 129.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider’s stock worth $56,670,000 after buying an additional 308,458 shares during the period. Finally, EULAV Asset Management raised its position in shares of Brown & Brown by 144.8% in the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock valued at $43,960,000 after acquiring an additional 254,900 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $111.65 on Monday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a market cap of $31.92 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The business has a 50 day moving average price of $105.28 and a 200-day moving average price of $105.54. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $114.15.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS 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%. Equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BRO shares. Keefe, Bruyette & Woods lowered their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Morgan Stanley started coverage on Brown & Brown in a research note on Thursday, December 5th. They set an “overweight” rating and a $134.00 target price for the company. Royal Bank of Canada lifted their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Bank of America upped their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, StockNews.com lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.