Intech Investment Management LLC Has $11.72 Million Stock Position in Brown & Brown, Inc. $BRO

Intech Investment Management LLC lowered its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 38.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 125,004 shares of the financial services provider’s stock after selling 79,701 shares during the period. Intech Investment Management LLC’s holdings in Brown & Brown were worth $11,724,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Brown & Brown by 16.8% during the 2nd quarter. Vanguard Group Inc. now owns 35,625,322 shares of the financial services provider’s stock worth $3,949,779,000 after acquiring an additional 5,124,203 shares during the period. Norges Bank bought a new position in Brown & Brown during the second quarter worth $433,740,000. Principal Financial Group Inc. boosted its position in Brown & Brown by 13.4% during the third quarter. Principal Financial Group Inc. now owns 15,416,190 shares of the financial services provider’s stock worth $1,445,888,000 after purchasing an additional 1,821,229 shares during the period. Boston Partners acquired a new position in shares of Brown & Brown in the second quarter valued at $171,163,000. Finally, State Street Corp raised its position in shares of Brown & Brown by 11.3% in the second quarter. State Street Corp now owns 12,460,821 shares of the financial services provider’s stock valued at $1,381,531,000 after purchasing an additional 1,262,139 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

BRO has been the subject of several research analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Brown & Brown in a report on Thursday, December 18th. They set a “neutral” rating and a $91.00 target price for the company. UBS Group restated a “neutral” rating and set a $81.00 price objective (down from $90.00) on shares of Brown & Brown in a research report on Thursday, January 29th. Raymond James Financial reaffirmed an “outperform” rating on shares of Brown & Brown in a research report on Monday, November 3rd. Keefe, Bruyette & Woods raised shares of Brown & Brown from an “underperform” rating to a “market perform” rating and dropped their price target for the company from $80.00 to $73.00 in a research report on Thursday, January 29th. Finally, Mizuho cut their price objective on Brown & Brown from $90.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brown & Brown has a consensus rating of “Hold” and an average target price of $90.36.

Brown & Brown Trading Up 1.7%

NYSE:BRO opened at $71.21 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average of $75.51 and a 200 day moving average of $83.68. The firm has a market capitalization of $24.24 billion, a P/E ratio of 22.25, a P/E/G ratio of 2.12 and a beta of 0.79. Brown & Brown, Inc. has a 52 week low of $65.68 and a 52 week high of $125.68.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. On average, research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, February 4th. Brown & Brown’s payout ratio is currently 20.63%.

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.