Brown & Brown, Inc. $BRO Shares Bought by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH raised its position in Brown & Brown, Inc. (NYSE:BRO) by 10.8% in the third quarter, Holdings Channel reports. The institutional investor owned 152,138 shares of the financial services provider’s stock after purchasing an additional 14,868 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Brown & Brown were worth $14,269,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of BRO. AQR Capital Management LLC boosted its position in Brown & Brown by 38.3% during the first quarter. AQR Capital Management LLC now owns 33,444 shares of the financial services provider’s stock worth $4,132,000 after purchasing an additional 9,264 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Brown & Brown by 5.2% during the 1st quarter. Focus Partners Wealth now owns 11,149 shares of the financial services provider’s stock worth $1,387,000 after buying an additional 547 shares during the period. Fifth Third Bancorp lifted its position in shares of Brown & Brown by 16.1% during the 2nd quarter. Fifth Third Bancorp now owns 7,900 shares of the financial services provider’s stock valued at $876,000 after buying an additional 1,093 shares in the last quarter. Cigna Investments Inc. New grew its stake in Brown & Brown by 9.7% in the 2nd quarter. Cigna Investments Inc. New now owns 2,736 shares of the financial services provider’s stock valued at $304,000 after acquiring an additional 243 shares during the period. Finally, TD Private Client Wealth LLC increased its holdings in Brown & Brown by 39.3% in the 2nd quarter. TD Private Client Wealth LLC now owns 436 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 123 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on BRO shares. Wolfe Research began coverage on shares of Brown & Brown in a report on Thursday, November 20th. They set a “peer perform” rating on the stock. UBS Group cut their target price on shares of Brown & Brown from $120.00 to $106.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Mizuho set a $89.00 price target on shares of Brown & Brown and gave the company a “neutral” rating in a research note on Monday, December 15th. Barclays lowered their price objective on Brown & Brown from $84.00 to $83.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Finally, JPMorgan Chase & Co. started coverage on Brown & Brown in a research note on Thursday, December 18th. They set a “neutral” rating and a $91.00 price objective for the company. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Brown & Brown currently has a consensus rating of “Hold” and a consensus price target of $98.67.

Brown & Brown Stock Up 0.7%

Shares of NYSE BRO opened at $79.19 on Friday. The stock has a market cap of $27.04 billion, a PE ratio of 23.71, a P/E/G ratio of 1.83 and a beta of 0.81. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.62. Brown & Brown, Inc. has a 12-month low of $76.17 and a 12-month high of $125.68. The company has a 50-day moving average of $79.88 and a 200 day moving average of $88.57.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The business’s revenue was up 35.4% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. As a group, sell-side analysts predict 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 will be paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a yield of 0.8%. Brown & Brown’s dividend payout ratio (DPR) is presently 19.76%.

Brown & Brown Profile

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.