Vontobel Holding Ltd. Purchases 1,279,429 Shares of Brown & Brown, Inc. $BRO

Vontobel Holding Ltd. lifted its position in Brown & Brown, Inc. (NYSE:BRO) by 21,112.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,285,489 shares of the financial services provider’s stock after purchasing an additional 1,279,429 shares during the quarter. Vontobel Holding Ltd.’s holdings in Brown & Brown were worth $78,286,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Equitable Trust Co. increased its position in shares of Brown & Brown by 1.7% in the first quarter. Equitable Trust Co. now owns 10,901 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 182 shares during the last quarter. CX Institutional lifted its holdings in shares of Brown & Brown by 3.1% during the 3rd quarter. CX Institutional now owns 6,242 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 189 shares during the last quarter. Financial Enhancement Group LLC grew its position in Brown & Brown by 3.0% in the first quarter. Financial Enhancement Group LLC now owns 8,969 shares of the financial services provider’s stock worth $607,000 after acquiring an additional 261 shares in the last quarter. CWC Advisors LLC. increased its stake in Brown & Brown by 3.5% in the first quarter. CWC Advisors LLC. now owns 8,484 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 289 shares during the last quarter. Finally, Patton Fund Management Inc. increased its stake in Brown & Brown by 10.6% in the first quarter. Patton Fund Management Inc. now owns 3,123 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 299 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Brown & Brown Trading Up 2.1%

Shares of NYSE:BRO traded up $1.44 during trading on Friday, reaching $69.42. 2,220,368 shares of the company traded hands, compared to its average volume of 2,491,204. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58. Brown & Brown, Inc. has a 52-week low of $53.81 and a 52-week high of $90.46. The firm has a market capitalization of $23.23 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 2.12 and a beta of 0.60. The business’s fifty day moving average is $67.21 and its 200-day moving average is $64.92.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). Brown & Brown had a net margin of 17.75% and a return on equity of 13.17%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. As a group, analysts forecast that Brown & Brown, Inc. will post 4.49 EPS for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were issued a dividend of $0.1650 per share. The ex-dividend date was Wednesday, August 12th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. Brown & Brown’s dividend payout ratio (DPR) is presently 20.82%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings raised Brown & Brown from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. UBS Group reiterated a “neutral” rating and set a $73.00 price objective (up from $65.00) on shares of Brown & Brown in a research report on Wednesday, July 8th. Citigroup reissued a “market outperform” rating on shares of Brown & Brown in a report on Monday, October 12th. Wells Fargo & Company dropped their target price on Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating for the company in a research report on Monday, October 12th. Finally, Oppenheimer began coverage on Brown & Brown in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $73.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Brown & Brown presently has an average rating of “Hold” and a consensus price target of $76.00.

About Brown & Brown

Brown & Brown, Inc is an independent insurance brokerage, risk management and employee benefits firm headquartered in Daytona Beach, Florida. The company helps businesses, public entities and individuals identify, manage and transfer risk through insurance placement, risk consulting and related services.

Its offerings include property and casualty insurance, employee benefits, personal insurance, surety products, risk management services and specialized insurance programs. Brown & Brown also operates wholesale brokerage businesses that provide coverage solutions and access to insurance markets for retail agents and brokers, including products designed for specialty and hard-to-place risks.

Founded in 1939 by J.