Park Avenue Securities LLC Acquires 1,074 Shares of Brown & Brown, Inc. (NYSE:BRO)

Park Avenue Securities LLC lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 12.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,996 shares of the financial services provider’s stock after buying an additional 1,074 shares during the quarter. Park Avenue Securities LLC’s holdings in Brown & Brown were worth $1,243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its stake in Brown & Brown by 395.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,197 shares of the financial services provider’s stock valued at $3,489,000 after acquiring an additional 27,297 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Brown & Brown by 56.8% in the 4th quarter. National Bank of Canada FI now owns 189,798 shares of the financial services provider’s stock worth $19,365,000 after purchasing an additional 68,745 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Brown & Brown during the fourth quarter worth $580,000. Charles Schwab Investment Management Inc. increased its stake in shares of Brown & Brown by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after acquiring an additional 40,881 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Brown & Brown by 19.9% in the fourth quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock valued at $31,055,000 after purchasing an additional 50,510 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

Shares of BRO stock opened at $104.39 on Thursday. Brown & Brown, Inc. has a 12 month low of $88.31 and a 12 month high of $125.68. The company’s fifty day simple moving average is $112.61 and its 200-day simple moving average is $111.16. The firm has a market cap of $29.92 billion, a PE ratio of 30.17, a P/E/G ratio of 2.93 and a beta of 0.84. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Monday, May 12th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Monday, May 12th. Brown & Brown’s dividend payout ratio is currently 16.71%.

Analyst Upgrades and Downgrades

BRO has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of Brown & Brown from $105.00 to $109.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. UBS Group lifted their target price on Brown & Brown from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 9th. Barclays increased their price target on Brown & Brown from $119.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, April 11th. Morgan Stanley reiterated an “equal weight” rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. Finally, Keefe, Bruyette & Woods decreased their price objective on Brown & Brown from $102.00 to $100.00 and set an “underperform” rating for the company in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $118.25.

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.