Amalgamated Bank raised its stake in Brown & Brown, Inc. (NYSE:BRO) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,681 shares of the financial services provider’s stock after buying an additional 1,322 shares during the period. Amalgamated Bank’s holdings in Brown & Brown were worth $1,219,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Simplex Trading LLC bought a new position in shares of Brown & Brown in the fourth quarter valued at $101,000. Cutler Group LP increased its holdings in shares of Brown & Brown by 212.2% in the fourth quarter. Cutler Group LP now owns 2,482 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,687 shares in the last quarter. Invictus RG bought a new position in shares of Brown & Brown in the third quarter valued at $248,000. Wolverine Trading LLC bought a new position in shares of Brown & Brown in the third quarter valued at $273,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Brown & Brown by 50.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,519 shares of the financial services provider’s stock valued at $335,000 after buying an additional 2,197 shares in the last quarter. 72.22% of the stock is currently owned by institutional investors.
Shares of Brown & Brown, Inc. (NYSE:BRO) opened at $53.33 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. Brown & Brown, Inc. has a one year low of $41.10 and a one year high of $53.87. The stock has a market cap of $7,430.00, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 2.24 and a beta of 0.70.
Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 22nd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. Brown & Brown had a net margin of 21.24% and a return on equity of 11.19%. The company had revenue of $474.30 million for the quarter, compared to the consensus estimate of $449.89 million. During the same period in the previous year, the business earned $0.41 EPS. The company’s revenue was up 9.4% on a year-over-year basis. equities research analysts anticipate that Brown & Brown, Inc. will post 2.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.13%. The ex-dividend date was Thursday, February 1st. Brown & Brown’s dividend payout ratio (DPR) is currently 31.41%.
Several research analysts have issued reports on the company. Zacks Investment Research cut Brown & Brown from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Citigroup set a $49.00 price target on Brown & Brown and gave the company a “sell” rating in a report on Friday, February 9th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $53.00 price target on shares of Brown & Brown in a report on Wednesday, January 24th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $52.00 price target on shares of Brown & Brown in a report on Monday, January 22nd. Finally, Langen Mcalenn reaffirmed a “buy” rating on shares of Brown & Brown in a report on Tuesday, January 16th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.63.
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About Brown & Brown
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.
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