Gateway Investment Advisers LLC raised its position in shares of Brown & Brown, Inc. (NYSE:BRO – Free Report) by 2.3% in the first quarter, HoldingsChannel reports. The fund owned 4,312 shares of the financial services provider’s stock after acquiring an additional 97 shares during the period. Gateway Investment Advisers LLC’s holdings in Brown & Brown were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $313,412,000. First Trust Advisors LP boosted its stake in shares of Brown & Brown by 626.6% in the fourth quarter. First Trust Advisors LP now owns 2,350,039 shares of the financial services provider’s stock valued at $239,751,000 after buying an additional 2,026,589 shares during the period. Madison Investment Advisors LLC bought a new stake in Brown & Brown during the fourth quarter worth $198,031,000. Vanguard Group Inc. lifted its stake in Brown & Brown by 4.7% during the fourth 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 during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Brown & Brown by 13,974.9% during the first quarter. GAMMA Investing LLC now owns 1,112,758 shares of the financial services provider’s stock worth $138,427,000 after purchasing an additional 1,104,852 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.
Brown & Brown Stock Down 2.5%
Brown & Brown stock opened at $107.85 on Tuesday. Brown & Brown, Inc. has a 1-year low of $88.31 and a 1-year high of $125.68. The firm has a market capitalization of $30.91 billion, a price-to-earnings ratio of 31.17, a P/E/G ratio of 2.93 and a beta of 0.84. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $113.20 and a 200 day simple moving average of $111.24.
Brown & Brown (NYSE:BRO – Get Free Report) last released its quarterly earnings data on Monday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.
Brown & Brown Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Monday, May 12th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Monday, May 12th. Brown & Brown’s dividend payout ratio is currently 16.71%.
Analysts Set New Price Targets
Several research firms have weighed in on BRO. Morgan Stanley restated an “equal weight” rating and set a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. UBS Group upped their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 9th. The Goldman Sachs Group cut Brown & Brown from a “buy” rating to a “neutral” rating and cut their target price for the stock from $126.00 to $119.00 in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods cut their target price on Brown & Brown from $102.00 to $100.00 and set an “underperform” rating for the company in a research note on Monday, May 5th. Finally, Edward Jones began coverage on Brown & Brown in a research note on Wednesday, April 16th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $118.25.
Get Our Latest Stock Analysis on Brown & Brown
Brown & Brown Profile
(Free Report)
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.
See Also
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