Brown & Brown, Inc. $BRO Position Boosted by Rhumbline Advisers

Rhumbline Advisers grew its holdings in Brown & Brown, Inc. (NYSE:BRO) by 8.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 576,772 shares of the financial services provider’s stock after purchasing an additional 46,081 shares during the period. Rhumbline Advisers owned about 0.17% of Brown & Brown worth $54,095,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Cornerstone Planning Group LLC increased its stake in Brown & Brown by 423.1% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $26,000 after buying an additional 220 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Brown & Brown during the 2nd quarter valued at $30,000. Motco purchased a new position in shares of Brown & Brown during the 2nd quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Brown & Brown in the second quarter worth $49,000. Finally, Evelyn Partners Investment Management LLP purchased a new stake in shares of Brown & Brown during the second quarter worth $52,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. BMO Capital Markets lowered their target price on Brown & Brown from $88.00 to $81.00 and set a “market perform” rating on the stock in a research note on Thursday, January 29th. Mizuho lowered their price target on Brown & Brown from $90.00 to $84.00 and set a “neutral” rating for the company in a research note on Wednesday, January 28th. Morgan Stanley cut their price objective on shares of Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 29th. Raymond James Financial reiterated an “outperform” rating on shares of Brown & Brown in a research note on Monday, November 3rd. Finally, Citigroup lowered shares of Brown & Brown from a “buy” rating to a “neutral” rating in a research note on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $90.36.

Brown & Brown Trading Down 1.5%

NYSE:BRO opened at $68.47 on Friday. The company’s 50 day moving average is $77.38 and its 200-day moving average is $85.10. The company has a quick ratio of 2.10, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a 12 month low of $65.68 and a 12 month high of $125.68. The firm has a market cap of $23.38 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 2.10 and a beta of 0.79.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. Brown & Brown’s revenue was up 35.7% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS. Equities analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, February 4th were paid a $0.165 dividend. The ex-dividend date was Wednesday, February 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. Brown & Brown’s payout ratio is presently 20.63%.

About Brown & Brown

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.