Mitsubishi UFJ Asset Management Co. Ltd. Acquires 55,399 Shares of Brown & Brown, Inc. $BRO

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 9.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 642,233 shares of the financial services provider’s stock after purchasing an additional 55,399 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of Brown & Brown worth $60,235,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in shares of Brown & Brown in the second quarter valued at approximately $30,000. Cornerstone Planning Group LLC increased its stake in Brown & Brown by 423.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 220 shares during the period. Motco acquired a new position in Brown & Brown in the 2nd quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Brown & Brown during the 2nd quarter valued at $49,000. Finally, Evelyn Partners Investment Management LLP bought a new stake in shares of Brown & Brown during the 2nd quarter valued at $52,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Stock Performance

NYSE BRO opened at $71.70 on Friday. The firm’s fifty day moving average price is $75.34 and its two-hundred day moving average price is $83.52. The stock has a market cap of $24.41 billion, a PE ratio of 22.41, a PEG ratio of 2.15 and a beta of 0.79. Brown & Brown, Inc. has a fifty-two week low of $65.68 and a fifty-two week high of $125.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.66 and a current ratio of 1.66.

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

Brown & Brown Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Mizuho upgraded Brown & Brown from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $84.00 to $85.00 in a research report on Friday. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a report on Monday, November 3rd. Citigroup cut shares of Brown & Brown from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Barclays reduced their price target on shares of Brown & Brown from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 27th. Finally, Wolfe Research began coverage on shares of Brown & Brown in a research report on Thursday, November 20th. They set a “peer perform” rating for the company. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $90.43.

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.