TimesSquare Capital Management LLC Has $49.84 Million Stock Position in Brown & Brown, Inc. $BRO

TimesSquare Capital Management LLC raised its stake in Brown & Brown, Inc. (NYSE:BRO) by 25.2% during the 2nd quarter, Holdings Channel reports. The fund owned 449,542 shares of the financial services provider’s stock after acquiring an additional 90,580 shares during the period. TimesSquare Capital Management LLC’s holdings in Brown & Brown were worth $49,841,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. GW&K Investment Management LLC increased its position in Brown & Brown by 104.4% during the 1st quarter. GW&K Investment Management LLC now owns 419 shares of the financial services provider’s stock worth $52,000 after buying an additional 214 shares during the period. Access Investment Management LLC bought a new stake in shares of Brown & Brown in the second quarter valued at about $1,109,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Brown & Brown by 30.6% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 760,893 shares of the financial services provider’s stock valued at $84,360,000 after acquiring an additional 178,082 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Brown & Brown during the first quarter worth about $3,043,000. Finally, Jump Financial LLC increased its position in Brown & Brown by 737.8% during the first quarter. Jump Financial LLC now owns 99,222 shares of the financial services provider’s stock worth $12,343,000 after acquiring an additional 87,379 shares during the period. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Price Performance

Shares of NYSE:BRO opened at $80.06 on Wednesday. Brown & Brown, Inc. has a one year low of $76.17 and a one year high of $125.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 6.72. The company has a market cap of $27.33 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.70 and a beta of 0.77. The firm has a 50 day simple moving average of $89.64 and a 200 day simple moving average of $99.46.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.15. Brown & Brown had a net margin of 18.23% and a return on equity of 13.64%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was up 35.4% compared to the same quarter last year. Research analysts predict that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, November 5th will be given a $0.165 dividend. This is a boost from Brown & Brown’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, November 5th. Brown & Brown’s dividend payout ratio is 19.76%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BRO shares. Argus restated a “hold” rating on shares of Brown & Brown in a research report on Thursday, July 31st. Wall Street Zen upgraded Brown & Brown from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. BMO Capital Markets lowered their price objective on Brown & Brown from $122.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 30th. Weiss Ratings downgraded Brown & Brown from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Finally, UBS Group decreased their price target on Brown & Brown from $120.00 to $106.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $105.23.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.