Huntington National Bank Grows Stock Position in Brown & Brown, Inc. (NYSE:BRO)

Huntington National Bank boosted its position in Brown & Brown, Inc. (NYSE:BRO) by 17.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,927 shares of the financial services provider’s stock after buying an additional 589 shares during the period. Huntington National Bank’s holdings in Brown & Brown were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of BRO. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Brown & Brown in the fourth quarter valued at about $28,000. Y.D. More Investments Ltd lifted its position in Brown & Brown by 122.7% in 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 period. R Squared Ltd purchased a new stake in Brown & Brown in the 4th quarter valued at approximately $31,000. SBI Securities Co. Ltd. acquired a new position in Brown & Brown during the 4th quarter worth approximately $37,000. Finally, Versant Capital Management Inc raised its stake in shares of Brown & Brown by 130.7% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock worth $42,000 after buying an additional 234 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Brown & Brown Price Performance

BRO stock opened at $115.01 on Friday. The stock’s 50 day moving average price is $115.03 and its 200 day moving average price is $108.97. The firm has a market cap of $32.89 billion, a P/E ratio of 33.24, a PEG ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Brown & Brown, Inc. has a 1 year low of $80.33 and a 1 year high of $125.68.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. On average, sell-side analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.52%. Brown & Brown’s dividend payout ratio is currently 17.34%.

Wall Street Analysts Forecast Growth

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