Boston Financial Mangement LLC Buys 1,647 Shares of Brown & Brown, Inc. (NYSE:BRO)

Boston Financial Mangement LLC increased its stake in shares of Brown & Brown, Inc. (NYSE:BRO) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 614,980 shares of the financial services provider’s stock after purchasing an additional 1,647 shares during the quarter. Brown & Brown comprises about 1.9% of Boston Financial Mangement LLC’s portfolio, making the stock its 12th biggest position. Boston Financial Mangement LLC’s holdings in Brown & Brown were worth $62,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of BRO. Brooklyn Investment Group bought a new stake in shares of Brown & Brown during the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Brown & Brown during the third quarter valued at approximately $29,000. Y.D. More Investments Ltd grew its stake in shares of Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 162 shares during the last quarter. R Squared Ltd bought a new position in Brown & Brown in the fourth quarter valued at approximately $31,000. Finally, Versant Capital Management Inc boosted its stake in Brown & Brown by 130.7% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 234 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Brown & Brown Trading Up 0.7 %

Shares of NYSE BRO opened at $112.25 on Thursday. Brown & Brown, Inc. has a twelve month low of $80.33 and a twelve month high of $114.15. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company’s fifty day moving average is $104.97 and its 200-day moving average is $105.31. The stock has a market cap of $32.09 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 2.91 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data 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 net margin of 20.68% and a return on equity of 17.81%. Equities research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, February 5th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.53%. Brown & Brown’s payout ratio is 17.34%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BRO. StockNews.com cut shares of Brown & Brown from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Bank of America raised their price objective on shares of Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Wells Fargo & Company raised their price objective on shares of Brown & Brown from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research note on Friday, January 10th. Finally, Royal Bank of Canada raised their price objective on shares of Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. 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 stock. According to data from MarketBeat, the stock presently 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.