Zurcher Kantonalbank Zurich Cantonalbank Acquires 7,133 Shares of Brown & Brown, Inc. (NYSE:BRO)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 15.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,511 shares of the financial services provider’s stock after acquiring an additional 7,133 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brown & Brown were worth $5,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Dundas Partners LLP grew its position in shares of Brown & Brown by 5.0% in the fourth quarter. Dundas Partners LLP now owns 503,111 shares of the financial services provider’s stock valued at $51,327,000 after purchasing an additional 23,906 shares in the last quarter. Amundi grew its holdings in Brown & Brown by 108.9% during the 4th quarter. Amundi now owns 678,532 shares of the financial services provider’s stock valued at $69,570,000 after buying an additional 353,797 shares in the last quarter. Berkshire Asset Management LLC PA bought a new stake in shares of Brown & Brown during the fourth quarter valued at about $222,000. Andra AP fonden lifted its holdings in shares of Brown & Brown by 60.6% in the fourth quarter. Andra AP fonden now owns 54,600 shares of the financial services provider’s stock worth $5,570,000 after buying an additional 20,600 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its position in shares of Brown & Brown by 46.3% in the fourth quarter. Edgestream Partners L.P. now owns 31,667 shares of the financial services provider’s stock valued at $3,231,000 after acquiring an additional 10,017 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BRO shares. Barclays upped their target price on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Morgan Stanley assumed coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target on the stock. Wells Fargo & Company lifted their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods reduced their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research report on Friday, January 10th. Finally, Bank of America raised 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Trading Up 0.3 %

BRO stock opened at $118.21 on Friday. The company has a market capitalization of $33.80 billion, a PE ratio of 34.16, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $121.25. The company’s 50 day moving average price is $109.45 and its two-hundred day moving average price is $107.04.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates 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, analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

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

Brown & Brown Company Profile

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.