Amalgamated Bank Purchases 421 Shares of Brown & Brown, Inc. (NYSE:BRO)

Amalgamated Bank grew its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,904 shares of the financial services provider’s stock after buying an additional 421 shares during the quarter. Amalgamated Bank’s holdings in Brown & Brown were worth $5,295,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BRO. Principal Financial Group Inc. lifted its holdings in shares of Brown & Brown by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 12,901,968 shares of the financial services provider’s stock worth $1,316,259,000 after acquiring an additional 94,121 shares during the last quarter. Barclays PLC grew its stake in Brown & Brown by 17.8% in the third quarter. Barclays PLC now owns 2,466,582 shares of the financial services provider’s stock worth $255,537,000 after purchasing an additional 371,980 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Brown & Brown by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider’s stock worth $136,302,000 after purchasing an additional 17,934 shares during the period. FMR LLC increased its position in Brown & Brown by 42.4% during the 3rd quarter. FMR LLC now owns 1,109,840 shares of the financial services provider’s stock valued at $114,979,000 after buying an additional 330,661 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Brown & Brown by 6.2% during the third quarter. Natixis Advisors LLC now owns 779,434 shares of the financial services provider’s stock valued at $80,749,000 after acquiring an additional 45,766 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Up 1.5 %

NYSE:BRO opened at $116.46 on Friday. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $117.15. The stock has a fifty day simple moving average of $105.95 and a 200-day simple moving average of $105.79. The company has a market cap of $33.30 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. 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 (NYSE:BRO) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating 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%. Analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

Wall Street Analysts Forecast Growth

BRO has been the topic of several analyst reports. 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 objective on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a report on Friday, January 10th. Bank of America lifted their price target on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Barclays lifted their target price on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Brown & Brown has a consensus rating of “Hold” and an average price target 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.