New York Life Investment Management LLC Purchases 322 Shares of Brown & Brown, Inc. (NYSE:BRO)

New York Life Investment Management LLC lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,937 shares of the financial services provider’s stock after acquiring an additional 322 shares during the period. New York Life Investment Management LLC’s holdings in Brown & Brown were worth $3,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in BRO. Zurich Insurance Group Ltd FI lifted its holdings in shares of Brown & Brown by 258.0% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock worth $66,985,000 after acquiring an additional 465,988 shares during the period. Barclays PLC increased its position in Brown & Brown by 17.8% during the 3rd quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after purchasing an additional 371,980 shares in the last quarter. FMR LLC increased its position in Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock worth $114,979,000 after purchasing an additional 330,661 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Brown & Brown by 129.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider’s stock worth $56,670,000 after purchasing an additional 308,458 shares in the last quarter. Finally, EULAV Asset Management increased its position in Brown & Brown by 144.8% during the 4th quarter. EULAV Asset Management now owns 430,900 shares of the financial services provider’s stock worth $43,960,000 after purchasing an additional 254,900 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Bank of America upped their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Barclays upped their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Wells Fargo & Company upped 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 started coverage on shares of Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.17.

Brown & Brown Stock Up 1.8 %

Shares of NYSE:BRO opened at $118.59 on Friday. The business’s 50 day simple moving average is $106.55 and its two-hundred day simple moving average is $105.99. The firm has a market cap of $33.91 billion, a P/E ratio of 34.27, a PEG ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a 52-week low of $80.33 and a 52-week high of $118.80.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The business 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 0.51%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

About Brown & Brown

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.