Brown & Brown, Inc. (NYSE:BRO) Shares Acquired by Glenview Trust co

Glenview Trust co grew its position in Brown & Brown, Inc. (NYSE:BRO) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,749 shares of the financial services provider’s stock after purchasing an additional 701 shares during the period. Glenview Trust co’s holdings in Brown & Brown were worth $995,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BRO. Victory Capital Management Inc. increased its holdings in shares of Brown & Brown by 0.4% in the third quarter. Victory Capital Management Inc. now owns 253,895 shares of the financial services provider’s stock valued at $26,304,000 after purchasing an additional 956 shares during the period. KBC Group NV increased its holdings in shares of Brown & Brown by 30.0% in the third quarter. KBC Group NV now owns 41,228 shares of the financial services provider’s stock valued at $4,272,000 after purchasing an additional 9,507 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Brown & Brown by 7.7% in the third quarter. CIBC Asset Management Inc now owns 36,999 shares of the financial services provider’s stock worth $3,833,000 after buying an additional 2,636 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Brown & Brown by 2.1% in the third quarter. Empowered Funds LLC now owns 20,684 shares of the financial services provider’s stock worth $2,143,000 after buying an additional 418 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Brown & Brown by 4.8% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 32,590 shares of the financial services provider’s stock worth $3,376,000 after buying an additional 1,485 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America upped their target price on Brown & Brown from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Morgan Stanley assumed coverage on Brown & Brown in a research note on Thursday, December 5th. They issued an “overweight” rating and a $134.00 target price on the stock. Wells Fargo & Company upped their target price on Brown & Brown from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. 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 research note on Wednesday, January 29th. Finally, Barclays upped their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $113.17.

Brown & Brown Stock Performance

Shares of BRO stock opened at $120.08 on Tuesday. The company has a market capitalization of $34.33 billion, a P/E ratio of 34.70, a P/E/G ratio of 2.93 and a beta of 0.86. The business’s 50 day moving average is $109.79 and its two-hundred day moving average is $107.20. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12-month low of $80.33 and a 12-month high of $121.25.

Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 27th. The financial services provider reported $0.86 earnings per share 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%. Analysts expect that Brown & Brown, Inc. will post 4.18 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were given a $0.15 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.50%. Brown & Brown’s dividend payout ratio (DPR) is presently 17.34%.

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.