Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 28.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,183 shares of the financial services provider’s stock after acquiring an additional 2,483 shares during the quarter. NEOS Investment Management LLC’s holdings in Brown & Brown were worth $1,141,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BRO. Mogy Joel R Investment Counsel Inc. increased its holdings in shares of Brown & Brown by 324.3% during the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider’s stock valued at $1,967,000 after purchasing an additional 14,740 shares during the period. Sanctuary Advisors LLC grew its position in Brown & Brown by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider’s stock valued at $18,104,000 after buying an additional 6,805 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Brown & Brown by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,356,535 shares of the financial services provider’s stock valued at $138,394,000 after buying an additional 40,881 shares during the period. Victory Capital Management Inc. raised its position in shares of Brown & Brown by 19.9% during the 4th quarter. Victory Capital Management Inc. now owns 304,405 shares of the financial services provider’s stock worth $31,055,000 after buying an additional 50,510 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Brown & Brown by 47.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 168,838 shares of the financial services provider’s stock worth $17,225,000 after acquiring an additional 54,246 shares during the period. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 0.1 %

Shares of NYSE:BRO opened at $122.97 on Friday. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $123.24. 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 company has a market cap of $35.16 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The firm has a 50 day simple moving average of $113.33 and a 200 day simple moving average of $108.31.

Brown & Brown (NYSE:BRO) last issued its earnings results 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%. As a group, research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a yield of 0.49%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BRO shares. Royal Bank of Canada raised their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $128.00 target price on shares of Brown & Brown in a research note on Tuesday, March 25th. Keefe, Bruyette & Woods dropped their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America raised their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $112.67.

About Brown & Brown

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.