Triad Investment Management Invests $4.31 Million in Brown & Brown, Inc. $BRO

Triad Investment Management purchased a new stake in Brown & Brown, Inc. (NYSE:BRO) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 54,122 shares of the financial services provider’s stock, valued at approximately $4,314,000. Brown & Brown comprises about 4.4% of Triad Investment Management’s portfolio, making the stock its 8th biggest position.

Several other hedge funds also recently modified their holdings of BRO. Cornerstone Planning Group LLC increased its holdings in Brown & Brown by 423.1% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 220 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Brown & Brown during the second quarter valued at about $30,000. Board of the Pension Protection Fund bought a new stake in shares of Brown & Brown during the fourth quarter worth about $40,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Brown & Brown in the second quarter valued at approximately $49,000. Finally, True Wealth Design LLC increased its stake in shares of Brown & Brown by 4,369.2% in the third quarter. True Wealth Design LLC now owns 581 shares of the financial services provider’s stock valued at $54,000 after buying an additional 568 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on BRO shares. BMO Capital Markets cut their target price on shares of Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research report on Thursday, January 29th. Wells Fargo & Company decreased their price target on shares of Brown & Brown from $82.00 to $78.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. Royal Bank Of Canada began coverage on shares of Brown & Brown in a research note on Tuesday, March 17th. They set a “sector perform” rating and a $76.00 price target for the company. Mizuho upgraded shares of Brown & Brown from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $84.00 to $85.00 in a report on Friday, February 27th. Finally, Jefferies Financial Group reduced their price objective on shares of Brown & Brown from $89.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.33.

Brown & Brown Price Performance

Brown & Brown stock opened at $64.35 on Thursday. The stock’s 50 day moving average is $69.94 and its 200 day moving average is $79.03. Brown & Brown, Inc. has a one year low of $63.29 and a one year high of $125.68. The firm has a market cap of $21.91 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.64 and a beta of 0.83. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66.

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

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were given a dividend of $0.165 per share. The ex-dividend date was Wednesday, February 4th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio is 20.63%.

Brown & Brown Company 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.