PensionDanmark Pensionsforsikringsaktieselskab Purchases 7,700 Shares of Brown & Brown, Inc. $BRO

PensionDanmark Pensionsforsikringsaktieselskab boosted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 10.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,380 shares of the financial services provider’s stock after acquiring an additional 7,700 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Brown & Brown were worth $5,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Brown & Brown in the fourth quarter worth $516,837,000. Capital International Investors acquired a new position in shares of Brown & Brown during the fourth quarter worth $371,654,000. Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of Brown & Brown by 132.8% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,538,584 shares of the financial services provider’s stock valued at $361,725,000 after purchasing an additional 2,589,048 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Brown & Brown by 53.0% during the 4th quarter. Deutsche Bank AG now owns 3,929,461 shares of the financial services provider’s stock valued at $313,178,000 after purchasing an additional 1,361,934 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Brown & Brown by 1,679.0% in the 3rd quarter. AQR Capital Management LLC now owns 1,204,318 shares of the financial services provider’s stock worth $112,953,000 after purchasing an additional 1,136,623 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Stock Down 0.1%

Brown & Brown stock opened at $71.37 on Monday. The business’s 50-day simple moving average is $65.08 and its two-hundred day simple moving average is $66.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11. The company has a market cap of $23.88 billion, a PE ratio of 22.51, a PEG ratio of 3.56 and a beta of 0.59. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $98.30.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. Equities analysts anticipate that Brown & Brown, Inc. will post 4.5 EPS for the current year.

Brown & Brown Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, August 12th. Brown & Brown’s payout ratio is presently 20.82%.

Analyst Ratings Changes

BRO has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 9th. Morgan Stanley downgraded Brown & Brown from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $60.00 to $55.00 in a report on Monday, July 6th. Barclays boosted their price target on Brown & Brown from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Raymond James Financial restated an “outperform” rating on shares of Brown & Brown in a report on Friday, June 26th. Finally, BMO Capital Markets lifted their target price on shares of Brown & Brown from $73.00 to $74.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Brown & Brown has an average rating of “Hold” and a consensus price target of $76.47.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.