Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Keybank National Association OH
Keybank National Association OH increased its position in Brown & Brown, Inc. (NYSE:BRO) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,520 shares of the financial services provider’s stock after buying an additional 661 shares during the quarter. Keybank National Association OH’s holdings in Brown & Brown were worth $1,257,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Advisor Group Inc. lifted its holdings in shares of Brown & Brown by 66.3% in the first quarter. Advisor Group Inc. now owns 46,883 shares of the financial services provider’s stock valued at $1,384,000 after buying an additional 18,699 shares during the period. First Trust Advisors LP lifted its holdings in shares of Brown & Brown by 16.9% in the first quarter. First Trust Advisors LP now owns 450,376 shares of the financial services provider’s stock valued at $13,291,000 after buying an additional 65,249 shares during the period. NN Investment Partners Holdings N.V. lifted its holdings in shares of Brown & Brown by 3.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 4,226,161 shares of the financial services provider’s stock valued at $141,576,000 after buying an additional 145,025 shares during the period. Unigestion Holding SA raised its position in shares of Brown & Brown by 58.1% during the second quarter. Unigestion Holding SA now owns 164,796 shares of the financial services provider’s stock worth $5,521,000 after purchasing an additional 60,531 shares during the period. Finally, Tandem Investment Advisors Inc. raised its position in shares of Brown & Brown by 1.9% during the second quarter. Tandem Investment Advisors Inc. now owns 629,699 shares of the financial services provider’s stock worth $21,095,000 after purchasing an additional 11,890 shares during the period. Institutional investors and hedge funds own 70.99% of the company’s stock.
BRO has been the topic of a number of recent analyst reports. Raymond James boosted their target price on Brown & Brown from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. SunTrust Banks boosted their target price on Brown & Brown to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Wells Fargo & Co reaffirmed a “hold” rating and set a $28.00 target price on shares of Brown & Brown in a research report on Sunday, April 21st. Morgan Stanley boosted their target price on Brown & Brown from $30.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, July 25th. Finally, ValuEngine lowered Brown & Brown from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.57.
Shares of Brown & Brown stock traded up $0.42 on Friday, reaching $36.08. 1,453,000 shares of the company were exchanged, compared to its average volume of 1,235,698. The stock has a fifty day moving average price of $35.38 and a 200-day moving average price of $31.79. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 2.56 and a beta of 0.72. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. Brown & Brown, Inc. has a fifty-two week low of $25.72 and a fifty-two week high of $36.91.
Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $575.20 million for the quarter, compared to analyst estimates of $554.35 million. Brown & Brown had a return on equity of 12.64% and a net margin of 17.28%. Brown & Brown’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. On average, equities analysts anticipate that Brown & Brown, Inc. will post 1.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Tuesday, August 6th. Brown & Brown’s payout ratio is 26.02%.
About Brown & Brown
Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.
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