Centiva Capital LP Boosts Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Centiva Capital LP boosted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 726.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,955 shares of the financial services provider’s stock after purchasing an additional 18,418 shares during the quarter. Centiva Capital LP’s holdings in Brown & Brown were worth $2,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Studio Investment Management LLC raised its stake in Brown & Brown by 1.5% during the 3rd quarter. Studio Investment Management LLC now owns 6,513 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 96 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Brown & Brown by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,339 shares of the financial services provider’s stock valued at $1,819,000 after purchasing an additional 100 shares during the period. Trust Point Inc. raised its stake in Brown & Brown by 4.3% during the 3rd quarter. Trust Point Inc. now owns 2,519 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 103 shares during the period. Creative Planning raised its stake in Brown & Brown by 0.4% during the 3rd quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after purchasing an additional 112 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in Brown & Brown by 0.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 22,929 shares of the financial services provider’s stock valued at $2,375,000 after purchasing an additional 113 shares during the period. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of Brown & Brown stock opened at $111.59 on Tuesday. The stock has a market cap of $31.91 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 2.60 and a beta of 0.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a 50 day moving average price of $107.39 and a 200-day moving average price of $100.07. Brown & Brown, Inc. has a one year low of $69.13 and a one year high of $114.15.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. Equities analysts expect that Brown & Brown, Inc. will post 3.74 EPS for the current year.

Brown & Brown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. This is a boost from Brown & Brown’s previous quarterly dividend of $0.13. Brown & Brown’s payout ratio is presently 16.35%.

Analysts Set New Price Targets

BRO has been the topic of several recent analyst reports. Argus initiated coverage on Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 target price on the stock. Barclays lifted their price objective on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Bank of America lifted their price objective on Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price objective on Brown & Brown from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $107.42.

Brown & Brown Company 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.