Brown & Brown, Inc. (NYSE:BRO) Shares Bought by Paloma Partners Management Co

Paloma Partners Management Co increased its position in Brown & Brown, Inc. (NYSE:BRO) by 74.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,956 shares of the financial services provider’s stock after acquiring an additional 3,404 shares during the period. Paloma Partners Management Co’s holdings in Brown & Brown were worth $824,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group purchased a new position in shares of Brown & Brown during the 3rd quarter worth $26,000. ST Germain D J Co. Inc. boosted its stake in Brown & Brown by 298.5% in the 3rd quarter. ST Germain D J Co. Inc. now owns 267 shares of the financial services provider’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Brown & Brown in the 3rd quarter valued at about $29,000. Crewe Advisors LLC increased its stake in shares of Brown & Brown by 330.4% during the 2nd quarter. Crewe Advisors LLC now owns 297 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 228 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Brown & Brown by 65.7% during the 2nd quarter. Larson Financial Group LLC now owns 532 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 211 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Down 1.3 %

NYSE:BRO opened at $111.59 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market capitalization of $31.91 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 2.60 and a beta of 0.84. Brown & Brown, Inc. has a one year low of $69.13 and a one year high of $114.15. The stock has a 50-day simple moving average of $107.39 and a 200 day simple moving average of $100.07.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Brown & Brown had a return on equity of 17.12% and a net margin of 22.65%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. Sell-side analysts predict that Brown & Brown, Inc. will post 3.74 EPS for the current fiscal year.

Brown & Brown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.15 per share. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.60 annualized dividend and a yield of 0.54%. Brown & Brown’s payout ratio is presently 16.35%.

Analyst Ratings Changes

Several brokerages recently commented on BRO. Jefferies Financial Group upped their price target on shares of Brown & Brown from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Bank of America upped their price target on shares of Brown & Brown from $108.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. StockNews.com downgraded Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Barclays upped their price target on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Finally, Argus began coverage on shares of Brown & Brown in a research note on Tuesday, September 24th. They set a “buy” rating and a $120.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and a consensus price target of $107.42.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.