Tredje AP fonden Reduces Holdings in Brown & Brown, Inc. (NYSE:BRO)

Tredje AP fonden decreased its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,787 shares of the financial services provider’s stock after selling 18,787 shares during the period. Tredje AP fonden’s holdings in Brown & Brown were worth $1,917,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Brown & Brown in the 3rd quarter worth about $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Brown & Brown in the 4th quarter worth about $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown in the 3rd quarter worth about $29,000. Y.D. More Investments Ltd increased its position in shares of Brown & Brown by 122.7% in 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 last quarter. Finally, R Squared Ltd bought a new stake in shares of Brown & Brown in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.3 %

BRO stock opened at $118.21 on Friday. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $121.25. The company has a market capitalization of $33.80 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85. The firm’s 50-day moving average is $109.45 and its two-hundred day moving average is $107.04. 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 (NYSE:BRO) last released its quarterly 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%. On average, analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors 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 dividend on an annualized basis and a dividend yield of 0.51%. Brown & Brown’s payout ratio is currently 17.34%.

Analyst Ratings Changes

Several research analysts have recently commented on BRO shares. Barclays lifted their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Morgan Stanley started coverage on shares of Brown & Brown in a report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. 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 report on Wednesday, January 29th. Finally, Bank of America lifted 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued 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.

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.