Nomura Asset Management Co. Ltd. Grows Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Nomura Asset Management Co. Ltd. lifted its position in Brown & Brown, Inc. (NYSE:BRO) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 441,693 shares of the financial services provider’s stock after acquiring an additional 10,076 shares during the period. Nomura Asset Management Co. Ltd. owned 0.15% of Brown & Brown worth $45,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in BRO. Journey Strategic Wealth LLC boosted its stake in Brown & Brown by 2.3% during the 4th quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 99 shares during the last quarter. CWA Asset Management Group LLC boosted its position in Brown & Brown by 3.7% during the fourth quarter. CWA Asset Management Group LLC now owns 2,916 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 103 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Brown & Brown by 3.4% during the fourth quarter. Bleakley Financial Group LLC now owns 3,162 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 103 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Brown & Brown by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 4,664 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 113 shares in the last quarter. Finally, Ascent Group LLC raised its holdings in Brown & Brown by 4.5% in the 3rd quarter. Ascent Group LLC now owns 2,722 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 117 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Brown & Brown Stock Performance

Shares of BRO stock opened at $122.97 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market cap of $35.16 billion, a P/E ratio of 35.54, a P/E/G ratio of 2.93 and a beta of 0.86. The firm’s 50 day moving average price is $113.33 and its 200-day moving average price is $108.28. Brown & Brown, Inc. has a one year low of $80.33 and a one year high of $123.24.

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 return on equity of 17.81% and a net margin of 20.68%. As a group, equities research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.49%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Bank of America upped their target price on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reduced their price target on 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 price target on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley restated an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $112.67.

Brown & Brown 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.