Seeyond raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO – Get Rating) by 183.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,323 shares of the financial services provider’s stock after purchasing an additional 7,325 shares during the period. Seeyond’s holdings in Brown & Brown were worth $645,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. My Personal CFO LLC bought a new stake in Brown & Brown in the 4th quarter worth about $25,000. Asset Dedication LLC bought a new stake in shares of Brown & Brown in the fourth quarter worth approximately $29,000. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Brown & Brown during the fourth quarter valued at approximately $42,000. Global Wealth Management Investment Advisory Inc. bought a new position in Brown & Brown during the first quarter valued at approximately $52,000. Finally, Atlas Capital Advisors LLC bought a new position in Brown & Brown during the second quarter valued at approximately $52,000. Institutional investors own 69.52% of the company’s stock.
Brown & Brown Price Performance
Shares of NYSE:BRO opened at $63.44 on Thursday. The firm’s 50 day simple moving average is $62.49 and its two-hundred day simple moving average is $59.30. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.49 and a quick ratio of 2.49. The company has a market capitalization of $17.99 billion, a P/E ratio of 26.21 and a beta of 0.75. Brown & Brown, Inc. has a 1-year low of $52.82 and a 1-year high of $68.43.
Brown & Brown Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 17th. Investors of record on Monday, May 8th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, May 5th. Brown & Brown’s dividend payout ratio is currently 19.01%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Citigroup raised Brown & Brown from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $69.00 in a report on Tuesday, April 18th. StockNews.com raised Brown & Brown from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. Jefferies Financial Group cut their price target on Brown & Brown from $69.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, April 10th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Brown & Brown from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 18th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Brown & Brown presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.64.
Brown & Brown Company 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.