101,762 Shares in Brown & Brown, Inc. (NYSE:BRO) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in Brown & Brown, Inc. (NYSE:BRO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 101,762 shares of the financial services provider’s stock, valued at approximately $10,403,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Brown & Brown during the fourth quarter worth $313,412,000. Madison Investment Advisors LLC bought a new position in Brown & Brown during the fourth quarter worth about $198,031,000. Vanguard Group Inc. raised its stake in Brown & Brown by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 29,940,139 shares of the financial services provider’s stock worth $3,054,493,000 after purchasing an additional 1,335,964 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Brown & Brown by 11,337.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,108,894 shares of the financial services provider’s stock valued at $1,109,000 after purchasing an additional 1,099,199 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Brown & Brown during the 4th quarter worth approximately $71,915,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $115.01 on Monday. The company’s 50 day moving average price is $115.03 and its two-hundred day moving average price is $109.05. The firm has a market capitalization of $32.89 billion, a P/E ratio of 33.24, a P/E/G ratio of 2.93 and a beta of 0.75. Brown & Brown, Inc. has a fifty-two week low of $80.33 and a fifty-two week high of $125.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

Brown & Brown (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, equities analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio is currently 17.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $128.00 price target on shares of Brown & Brown in a research report on Tuesday, March 25th. Bank of America lifted their price objective 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 target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada boosted their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus price target 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.