Sei Investments Co. Boosts Stake in Brown & Brown, Inc. (NYSE:BRO)

Sei Investments Co. lifted its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 374,927 shares of the financial services provider’s stock after purchasing an additional 44,919 shares during the quarter. Sei Investments Co. owned about 0.13% of Brown & Brown worth $38,250,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Brown & Brown during the 3rd quarter valued at $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in Brown & Brown during the fourth quarter worth about $28,000. Y.D. More Investments Ltd grew its holdings in Brown & Brown by 122.7% in the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 162 shares during the period. R Squared Ltd bought a new position in shares of Brown & Brown during the fourth quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Brown & Brown during the fourth quarter valued at approximately $37,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Bank of America upped their price target on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reduced their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Royal Bank of Canada upped their price target on shares of Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley assumed coverage on shares of Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Brown & Brown has an average rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Up 2.1 %

Shares of BRO stock opened at $121.02 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $121.30. The stock has a market cap of $34.60 billion, a P/E ratio of 34.98, a P/E/G ratio of 2.93 and a beta of 0.86. The company has a 50 day simple moving average of $111.92 and a two-hundred day simple moving average of $107.82.

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 the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.50%. Brown & Brown’s payout ratio is currently 17.34%.

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.