Tokio Marine Asset Management Co. Ltd. Boosts Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Tokio Marine Asset Management Co. Ltd. grew its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,522 shares of the financial services provider’s stock after buying an additional 602 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Brown & Brown were worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in BRO. Fortitude Family Office LLC purchased a new stake in shares of Brown & Brown during the fourth quarter valued at approximately $31,000. Park Place Capital Corp grew its holdings in shares of Brown & Brown by 166.5% during the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after buying an additional 318 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Brown & Brown by 174.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 348 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in Brown & Brown by 150.6% in the third quarter. GPS Wealth Strategies Group LLC now owns 589 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 354 shares during the last quarter. Finally, Mendota Financial Group LLC purchased a new stake in Brown & Brown in the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BRO. Keefe, Bruyette & Woods raised their target price on shares of Brown & Brown from $75.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. Royal Bank of Canada raised their target price on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. StockNews.com upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Sunday, March 17th. The Goldman Sachs Group upgraded shares of Brown & Brown from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $84.00 to $83.00 in a report on Monday, January 8th. Finally, UBS Group raised their target price on shares of Brown & Brown from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus target price of $87.10.

Insider Activity

In other news, Chairman Hyatt J. Brown sold 144,323 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the sale, the chairman now directly owns 37,460,605 shares in the company, valued at approximately $3,220,113,605.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.02% of the company’s stock.

Brown & Brown Stock Down 1.0 %

BRO opened at $81.46 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.95 and a debt-to-equity ratio of 0.52. Brown & Brown, Inc. has a 1-year low of $61.71 and a 1-year high of $87.99. The company has a market capitalization of $23.24 billion, a PE ratio of 25.06, a PEG ratio of 2.23 and a beta of 0.78. The firm’s 50 day simple moving average is $84.27 and its two-hundred day simple moving average is $77.17.

Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. As a group, equities analysts forecast that Brown & Brown, Inc. will post 3.61 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.52 annualized dividend and a dividend yield of 0.64%. Brown & Brown’s payout ratio is 16.00%.

Brown & Brown 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.