UniSuper Management Pty Ltd Acquires 4,759 Shares of Brown & Brown, Inc. (NYSE:BRO)

UniSuper Management Pty Ltd raised its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 22.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,637 shares of the financial services provider’s stock after purchasing an additional 4,759 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Brown & Brown were worth $2,615,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new position in Brown & Brown in the 3rd quarter worth about $26,000. Kohmann Bosshard Financial Services LLC bought a new position in Brown & Brown in the 4th quarter worth about $28,000. Y.D. More Investments Ltd increased its position 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 worth $30,000 after acquiring an additional 162 shares during the period. R Squared Ltd bought a new stake in shares of Brown & Brown during the fourth quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Brown & Brown in the fourth quarter valued at approximately $37,000. 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 $122.97 on Friday. The company has a 50 day moving average price of $113.33 and a 200 day moving average price of $108.31. The firm has a market capitalization of $35.16 billion, a P/E ratio of 35.54, a PEG ratio of 2.93 and a beta of 0.86. 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 $123.24.

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 net margin of 20.68% and a return on equity of 17.81%. Sell-side analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were given 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 yield of 0.49%. Brown & Brown’s dividend payout ratio is currently 17.34%.

Analysts Set New Price Targets

Several research analysts have commented on BRO shares. Wells Fargo & Company raised their price objective on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Bank of America lifted their price objective on Brown & Brown from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods lowered their price objective on shares of Brown & Brown from $99.00 to $97.00 and set an “underperform” rating for the company in a research note on Friday, January 10th. Morgan Stanley reissued an “equal weight” rating and set a $128.00 target price on shares of Brown & Brown in a research report on Tuesday, March 25th. Finally, Royal Bank of Canada upped their target price on Brown & Brown from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $112.67.

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.