Achmea Investment Management B.V. Decreases Stock Holdings in Brown & Brown, Inc. (NYSE:BRO)

Achmea Investment Management B.V. trimmed its position in shares of Brown & Brown, Inc. (NYSE:BRO) by 4.6% during the 4th quarter, Holdings Channel reports. The fund owned 22,647 shares of the financial services provider’s stock after selling 1,099 shares during the period. Achmea Investment Management B.V.’s holdings in Brown & Brown were worth $2,310,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of Brown & Brown during the 3rd quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Brown & Brown during the 4th quarter worth approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Brown & Brown during the 3rd quarter worth approximately $29,000. Y.D. More Investments Ltd raised its holdings in shares of Brown & Brown by 122.7% during the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 162 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Brown & Brown during the 4th quarter worth approximately $31,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Stock Performance

Shares of Brown & Brown stock opened at $118.21 on Friday. The stock’s fifty day moving average is $109.45 and its two-hundred day moving average is $107.04. The company has a market capitalization of $33.80 billion, a PE ratio of 34.16, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52 week low of $80.33 and a 52 week high of $121.25.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share (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%. As a group, analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Wednesday, February 5th. Brown & Brown’s payout ratio is 17.34%.

Wall Street Analyst Weigh In

BRO has been the topic of several recent research reports. Morgan Stanley initiated coverage on Brown & Brown in a report on Thursday, December 5th. They set an “overweight” rating and a $134.00 price target on the stock. Royal Bank of Canada increased their price target on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Bank of America increased their price target on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Barclays increased their price target on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods decreased their price target on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a report on Friday, January 10th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.