Sciencast Management LP Invests $1.87 Million in Brown & Brown, Inc. (NYSE:BRO)

Sciencast Management LP acquired a new stake in shares of Brown & Brown, Inc. (NYSE:BRO) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 18,309 shares of the financial services provider’s stock, valued at approximately $1,868,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BRO. Principal Financial Group Inc. increased its position in shares of Brown & Brown by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock valued at $1,316,259,000 after acquiring an additional 94,121 shares in the last quarter. Barclays PLC increased its holdings in shares of Brown & Brown by 17.8% in the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after purchasing an additional 371,980 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Brown & Brown in the fourth quarter worth $198,031,000. Royal London Asset Management Ltd. lifted its holdings in shares of Brown & Brown by 3.0% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,768,070 shares of the financial services provider’s stock valued at $180,378,000 after purchasing an additional 50,885 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Brown & Brown by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after buying an additional 40,881 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BRO shares. Royal Bank of Canada upped their target price 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. Keefe, Bruyette & Woods dropped their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company boosted their target price on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Bank of America increased their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley began coverage on Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Price Performance

NYSE BRO opened at $118.38 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $121.25. The stock has a market cap of $33.85 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 2.93 and a beta of 0.86. The company’s 50 day moving average is $111.55 and its two-hundred day moving average is $107.67.

Brown & Brown (NYSE:BRO) last announced 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 net margin of 20.68% and a return on equity of 17.81%. As a group, research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is 17.34%.

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.