Capital Fund Management S.A. Purchases 96,823 Shares of Brown & Brown, Inc. $BRO

Capital Fund Management S.A. grew its position in Brown & Brown, Inc. (NYSE:BRO) by 238.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 137,444 shares of the financial services provider’s stock after buying an additional 96,823 shares during the period. Capital Fund Management S.A.’s holdings in Brown & Brown were worth $12,891,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BRO. Mackenzie Financial Corp boosted its holdings in Brown & Brown by 22.9% in the third quarter. Mackenzie Financial Corp now owns 28,276 shares of the financial services provider’s stock valued at $2,652,000 after acquiring an additional 5,260 shares during the last quarter. Franklin Resources Inc. lifted its position in Brown & Brown by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 123,362 shares of the financial services provider’s stock valued at $11,570,000 after purchasing an additional 2,797 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Brown & Brown by 170.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 5,982 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 3,767 shares during the last quarter. FourThought Financial Partners LLC boosted its stake in shares of Brown & Brown by 102.7% in the 3rd quarter. FourThought Financial Partners LLC now owns 3,917 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Capital World Investors grew its position in shares of Brown & Brown by 81.1% during the 3rd quarter. Capital World Investors now owns 17,479,389 shares of the financial services provider’s stock worth $1,639,392,000 after buying an additional 7,827,992 shares during the period. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Down 1.1%

Brown & Brown stock opened at $67.63 on Friday. The stock has a market capitalization of $23.02 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.83 and a beta of 0.79. Brown & Brown, Inc. has a twelve month low of $65.68 and a twelve month high of $125.68. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $73.65 and a 200-day moving average of $81.97.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 EPS for the quarter, topping 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%. The firm’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period last year, the business posted $0.86 earnings per share. On average, equities research analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

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

Analyst Upgrades and Downgrades

BRO has been the subject of a number of recent research reports. Barclays dropped their price target on shares of Brown & Brown from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday. Bank of America lowered their target price on shares of Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. BMO Capital Markets cut their price target 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. Argus upgraded Brown & Brown to a “hold” rating in a research report on Tuesday, January 27th. Finally, JPMorgan Chase & Co. began coverage on Brown & Brown in a report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price objective for the company. Four analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $90.29.

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.