13,212 Shares in Brown & Brown, Inc. $BRO Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp bought a new stake in Brown & Brown, Inc. (NYSE:BRO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,212 shares of the financial services provider’s stock, valued at approximately $848,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. PFA Pension Forsikringsaktieselskab purchased a new position in Brown & Brown in the fourth quarter valued at $46,226,000. Rathbones Group PLC raised its holdings in Brown & Brown by 17.7% in the 1st quarter. Rathbones Group PLC now owns 1,154,219 shares of the financial services provider’s stock valued at $75,267,000 after acquiring an additional 173,265 shares during the last quarter. Barr E S & Co. boosted its stake in Brown & Brown by 19.0% during the fourth quarter. Barr E S & Co. now owns 362,669 shares of the financial services provider’s stock worth $28,905,000 after buying an additional 57,971 shares during the last quarter. UBS Group AG increased its stake in shares of Brown & Brown by 31.8% in the 4th quarter. UBS Group AG now owns 1,972,258 shares of the financial services provider’s stock worth $157,189,000 after acquiring an additional 475,951 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Brown & Brown by 46.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,573,902 shares of the financial services provider’s stock worth $102,634,000 after acquiring an additional 499,902 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Brown & Brown Trading Down 2.0%

Shares of BRO stock opened at $71.35 on Friday. The company has a 50-day moving average of $68.77 and a two-hundred day moving average of $65.75. The firm has a market cap of $23.88 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. Brown & Brown, Inc. has a 1-year low of $53.81 and a 1-year high of $97.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.71 billion. Brown & Brown had a return on equity of 13.17% and a net margin of 17.75%.The business’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. On average, analysts predict that Brown & Brown, Inc. will post 4.5 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Brown & Brown’s payout ratio is presently 20.82%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada reissued a “sector perform” rating on shares of Brown & Brown in a research report on Wednesday, July 29th. Wells Fargo & Company reduced their target price on shares of Brown & Brown from $69.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 9th. Mizuho boosted their target price on shares of Brown & Brown from $81.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Raymond James Financial reissued an “outperform” rating on shares of Brown & Brown in a research note on Friday, June 26th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Brown & Brown in a report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $76.80.

Brown & Brown Company Profile

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.