Allianz Asset Management GmbH Acquires 111,883 Shares of Brown & Brown, Inc. (NYSE:BRO)

Allianz Asset Management GmbH boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 36.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 423,017 shares of the financial services provider’s stock after buying an additional 111,883 shares during the period. Allianz Asset Management GmbH owned approximately 0.15% of Brown & Brown worth $43,156,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of Brown & Brown by 0.4% during the third quarter. Creative Planning now owns 29,892 shares of the financial services provider’s stock valued at $3,097,000 after purchasing an additional 112 shares during the period. Blue Trust Inc. increased its position in shares of Brown & Brown by 166.2% during the third quarter. Blue Trust Inc. now owns 1,464 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 914 shares during the period. Private Advisor Group LLC increased its position in shares of Brown & Brown by 26.1% during the third quarter. Private Advisor Group LLC now owns 7,467 shares of the financial services provider’s stock valued at $774,000 after purchasing an additional 1,544 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Brown & Brown during the third quarter valued at approximately $117,530,000. Finally, Lake Street Advisors Group LLC bought a new stake in shares of Brown & Brown during the third quarter valued at approximately $228,000. 71.01% of the stock is owned by institutional investors.

Brown & Brown Price Performance

Brown & Brown stock opened at $111.65 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market cap of $31.92 billion, a P/E ratio of 32.27, a P/E/G ratio of 2.93 and a beta of 0.86. The business’s fifty day moving average is $105.28 and its two-hundred day moving average is $105.49. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $114.15.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. Equities research analysts forecast that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, February 5th. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BRO shares. Bank of America boosted their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Wells Fargo & Company boosted their price objective on Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Barclays boosted their price objective on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. StockNews.com cut Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Morgan Stanley assumed coverage on Brown & Brown in a research report on Thursday, December 5th. They issued an “overweight” rating and a $134.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $113.17.

Brown & Brown 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.