Y Intercept Hong Kong Ltd Increases Position in Brown & Brown, Inc. $BRO

Y Intercept Hong Kong Ltd lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 849.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 111,925 shares of the financial services provider’s stock after buying an additional 100,135 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Brown & Brown were worth $8,920,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Brown & Brown by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 37,634,847 shares of the financial services provider’s stock valued at $2,999,497,000 after buying an additional 303,955 shares during the period. Capital World Investors lifted its stake in shares of Brown & Brown by 2.3% during the fourth quarter. Capital World Investors now owns 17,886,395 shares of the financial services provider’s stock valued at $1,425,546,000 after buying an additional 407,006 shares during the period. State Street Corp lifted its stake in shares of Brown & Brown by 5.3% during the third quarter. State Street Corp now owns 13,120,826 shares of the financial services provider’s stock valued at $1,230,602,000 after buying an additional 660,005 shares during the period. Geode Capital Management LLC lifted its stake in shares of Brown & Brown by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 7,952,957 shares of the financial services provider’s stock valued at $631,495,000 after buying an additional 118,225 shares during the period. Finally, Norges Bank purchased a new position in shares of Brown & Brown during the fourth quarter valued at approximately $516,837,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Activity at Brown & Brown

In other Brown & Brown news, Director H Palmer Proctor, Jr. bought 2,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average price of $57.10 per share, with a total value of $114,200.00. Following the purchase, the director owned 47,621 shares in the company, valued at approximately $2,719,159.10. The trade was a 4.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.13% of the company’s stock.

Brown & Brown Stock Up 0.0%

Shares of BRO opened at $59.96 on Friday. The firm has a market cap of $20.32 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 2.76 and a beta of 0.63. The company’s fifty day moving average is $61.11 and its two-hundred day moving average is $69.85. Brown & Brown, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $111.10. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Brown & Brown had a net margin of 17.94% and a return on equity of 12.94%. Brown & Brown’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same quarter last year, the business earned $1.29 EPS. Analysts forecast that Brown & Brown, Inc. will post 4.51 earnings per share for the current year.

Brown & Brown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, May 11th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, May 11th. Brown & Brown’s dividend payout ratio (DPR) is 21.22%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Brown & Brown from $82.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. Citizens Jmp initiated coverage on shares of Brown & Brown in a research note on Thursday, May 21st. They set a “market outperform” rating and a $70.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brown & Brown in a research note on Tuesday. Barclays decreased their price target on shares of Brown & Brown from $80.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Finally, Royal Bank Of Canada decreased their price target on shares of Brown & Brown from $76.00 to $72.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $78.44.

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.