CIBC Asset Management Inc Has $3.83 Million Stake in Brown & Brown, Inc. (NYSE:BRO)

CIBC Asset Management Inc increased its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 7.7% during the third quarter, Holdings Channel reports. The institutional investor owned 36,999 shares of the financial services provider’s stock after purchasing an additional 2,636 shares during the period. CIBC Asset Management Inc’s holdings in Brown & Brown were worth $3,833,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Crewe Advisors LLC raised its holdings in shares of Brown & Brown by 330.4% in the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 228 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in shares of Brown & Brown by 298.5% in the third quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown in the third quarter valued at approximately $29,000. Blue Trust Inc. boosted its position in shares of Brown & Brown by 142.3% during the second quarter. Blue Trust Inc. now owns 550 shares of the financial services provider’s stock valued at $48,000 after buying an additional 323 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in Brown & Brown by 65.7% during the second quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock worth $48,000 after buying an additional 211 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Insider Activity at Brown & Brown

In other news, Chairman Hyatt J. Brown sold 134,640 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.02% of the stock is currently owned by corporate insiders.

Brown & Brown Stock Down 0.2 %

BRO stock opened at $109.78 on Tuesday. The company has a market capitalization of $31.39 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 2.54 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a fifty day moving average of $105.38 and a 200-day moving average of $98.09. Brown & Brown, Inc. has a fifty-two week low of $69.13 and a fifty-two week high of $114.08.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $0.71 EPS. Brown & Brown’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities research analysts predict that Brown & Brown, Inc. will post 3.73 earnings per share for the current year.

Brown & Brown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. Brown & Brown’s payout ratio is 16.35%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays started coverage on Brown & Brown in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $108.00 price objective on the stock. Argus started coverage on shares of Brown & Brown in a report on Tuesday, September 24th. They set a “buy” rating and a $120.00 price target on the stock. Jefferies Financial Group lifted their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Bank of America lifted their price target on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $106.50.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.