Mirae Asset Global Investments Co. Ltd. Grows Position in Brown & Brown, Inc. (NYSE:BRO)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 35.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,631 shares of the financial services provider’s stock after acquiring an additional 7,835 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Brown & Brown were worth $3,048,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurich Insurance Group Ltd FI raised its holdings in shares of Brown & Brown by 258.0% during the third quarter. Zurich Insurance Group Ltd FI now owns 646,574 shares of the financial services provider’s stock valued at $66,985,000 after purchasing an additional 465,988 shares during the last quarter. Barclays PLC grew its position in Brown & Brown by 17.8% in the 3rd 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. FMR LLC raised its stake 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 during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Brown & Brown by 129.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 547,003 shares of the financial services provider’s stock valued at $56,670,000 after buying an additional 308,458 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of Brown & Brown by 652.8% in the 3rd quarter. Tidal Investments LLC now owns 259,205 shares of the financial services provider’s stock worth $26,854,000 after buying an additional 224,772 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BRO shares. Morgan Stanley assumed coverage on Brown & Brown in a research report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Bank of America boosted their target price on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods decreased their price target on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Finally, Barclays lifted their price target on shares of Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $113.17.

Brown & Brown Stock Up 0.8 %

NYSE:BRO opened at $108.64 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.73 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a twelve month low of $78.70 and a twelve month high of $114.15. The company has a market cap of $31.07 billion, a PE ratio of 31.40, a P/E/G ratio of 2.84 and a beta of 0.86. The company’s 50 day moving average is $104.65 and its two-hundred day moving average is $104.74.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates 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 4.15 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Wednesday, February 5th. Brown & Brown’s payout ratio is presently 17.34%.

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.