Brown & Brown, Inc. (NYSE:BRO) Position Increased by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its stake in Brown & Brown, Inc. (NYSE:BRO) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 589,118 shares of the financial services provider’s stock after buying an additional 28,127 shares during the period. Ameriprise Financial Inc.’s holdings in Brown & Brown were worth $60,093,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Brown & Brown in the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. grew its holdings in shares of Brown & Brown by 534.1% during the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider’s stock valued at $29,000 after buying an additional 235 shares in the last quarter. Y.D. More Investments Ltd raised its position in Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after buying an additional 162 shares during the period. R Squared Ltd purchased a new stake in Brown & Brown in the 4th quarter worth about $31,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Brown & Brown in the 4th quarter worth about $37,000. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

BRO opened at $111.42 on Friday. The stock has a 50-day moving average of $117.15 and a 200-day moving average of $110.86. 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 $85.97 and a 52-week high of $125.68. The company has a market cap of $31.93 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87.

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

Brown & Brown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown’s payout ratio is 16.71%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BRO. Jefferies Financial Group upped their target price on Brown & Brown from $105.00 to $109.00 and gave the company a “hold” rating in a report on Friday, April 11th. Keefe, Bruyette & Woods dropped their price objective on shares of Brown & Brown from $102.00 to $100.00 and set an “underperform” rating on the stock in a research note on Monday, May 5th. Morgan Stanley restated an “equal weight” rating and set a $128.00 price target on shares of Brown & Brown in a report on Tuesday, March 25th. Bank of America upped their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Edward Jones began coverage on Brown & Brown in a research report on Wednesday, April 16th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus price target of $116.67.

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.