Mitsubishi UFJ Asset Management Co. Ltd. Has $60.24 Million Stock Position in Brown & Brown, Inc. $BRO

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 9.4% during the third quarter, Holdings Channel.com reports. The firm owned 642,233 shares of the financial services provider’s stock after acquiring an additional 55,399 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Brown & Brown were worth $60,235,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BRO. Vanguard Group Inc. raised its position in Brown & Brown by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 37,330,892 shares of the financial services provider’s stock worth $3,501,264,000 after purchasing an additional 1,705,570 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Brown & Brown by 13.4% in the third quarter. Principal Financial Group Inc. now owns 15,416,190 shares of the financial services provider’s stock valued at $1,445,888,000 after buying an additional 1,821,229 shares during the period. State Street Corp raised its position in shares of Brown & Brown by 11.3% during the second quarter. State Street Corp now owns 12,460,821 shares of the financial services provider’s stock worth $1,381,531,000 after acquiring an additional 1,262,139 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Brown & Brown by 16.6% in the second quarter. Geode Capital Management LLC now owns 7,369,576 shares of the financial services provider’s stock worth $813,624,000 after acquiring an additional 1,050,350 shares during the period. Finally, Invesco Ltd. boosted its holdings in Brown & Brown by 1.1% in the second quarter. Invesco Ltd. now owns 4,166,370 shares of the financial services provider’s stock valued at $461,925,000 after acquiring an additional 46,235 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

BRO has been the topic of several research analyst reports. Mizuho raised shares of Brown & Brown from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $84.00 to $85.00 in a research note on Friday. Keefe, Bruyette & Woods raised Brown & Brown from an “underperform” rating to a “market perform” rating and lowered their price target for the company from $80.00 to $73.00 in a research report on Thursday, January 29th. Raymond James Financial restated an “outperform” rating on shares of Brown & Brown in a research note on Monday, November 3rd. UBS Group reiterated a “neutral” rating and issued a $81.00 target price (down from $90.00) on shares of Brown & Brown in a research note on Thursday, January 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brown & Brown in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $90.43.

Brown & Brown Trading Up 0.7%

NYSE BRO opened at $71.70 on Friday. The stock has a market capitalization of $24.41 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 2.15 and a beta of 0.79. Brown & Brown, Inc. has a one year low of $65.68 and a one year high of $125.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.66. The business’s fifty day moving average is $75.34 and its 200-day moving average is $83.52.

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

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were paid 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 0.9%. Brown & Brown’s dividend payout ratio (DPR) is presently 20.63%.

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.