Forsta AP Fonden Boosts Stake in Brown & Brown, Inc. (NYSE:BRO)

Forsta AP Fonden lifted its holdings in Brown & Brown, Inc. (NYSE:BRO) by 12.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,400 shares of the financial services provider’s stock after buying an additional 4,900 shares during the period. Forsta AP Fonden’s holdings in Brown & Brown were worth $3,887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State of Alaska Department of Revenue lifted its stake in shares of Brown & Brown by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 25,633 shares of the financial services provider’s stock worth $2,243,000 after buying an additional 125 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its stake in Brown & Brown by 2.6% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 6,316 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 158 shares during the period. Tributary Capital Management LLC raised its stake in Brown & Brown by 1.1% during the fourth quarter. Tributary Capital Management LLC now owns 16,677 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 174 shares during the period. First Horizon Advisors Inc. raised its stake in Brown & Brown by 22.8% during the fourth quarter. First Horizon Advisors Inc. now owns 1,008 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 187 shares during the period. Finally, Czech National Bank raised its stake in Brown & Brown by 0.5% during the first quarter. Czech National Bank now owns 41,562 shares of the financial services provider’s stock worth $3,638,000 after purchasing an additional 191 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Brown & Brown news, EVP Julie Turpin sold 3,350 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $89.92, for a total transaction of $301,232.00. Following the completion of the transaction, the executive vice president now owns 23,597 shares in the company, valued at approximately $2,121,842.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 17.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on BRO shares. Raymond James lifted their target price on shares of Brown & Brown from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Royal Bank of Canada lifted their target price on shares of Brown & Brown from $87.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. UBS Group lifted their target price on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Wells Fargo & Company boosted their price target on shares of Brown & Brown from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Finally, Bank of America raised shares of Brown & Brown from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $91.00 to $101.00 in a research note on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $91.70.

Brown & Brown Trading Up 1.9 %

Shares of BRO stock opened at $93.74 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market capitalization of $26.74 billion, a P/E ratio of 28.84, a price-to-earnings-growth ratio of 2.48 and a beta of 0.82. The company has a 50 day moving average price of $89.67 and a 200 day moving average price of $83.94. Brown & Brown, Inc. has a fifty-two week low of $66.73 and a fifty-two week high of $94.12.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.07 by $0.07. Brown & Brown had a net margin of 21.09% and a return on equity of 16.43%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the business posted $0.84 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. Equities research analysts predict that Brown & Brown, Inc. will post 3.61 EPS for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, May 3rd. Brown & Brown’s dividend payout ratio (DPR) is presently 16.00%.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.